Fiserv Buys Rival Fintech Vendor Open Solutions

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6:45 AM EST January 15th, 2013

Fiserv has acquired rival fintech vendor Open Solutions for $55 million in a deal that also sees it assume around $960 million of debt, Finextra reported.

Jeffery Yabuki, president and CEO, Fiserv: “Open Solutions provides several growth opportunities, including a real-time account processing capability that serves multiple charter types, languages and currencies on a single platform.”

Finextra added that the vendor’s flagship product, the DNA real-time, open technology account processing platform is used by more than 800 clients and that Fiserv plans to add some of the features contained in its Acumen account processing platform to DNA in the future.

Read the full story here.

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