Fiserv Buys Rival Fintech Vendor Open Solutions

What's Next In Payments®
6:45 AM EDT 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.

Comments
Also by This Author
What's Hot
News
Square Launches Register App Platform
News
Etsy Debuts mPOS Solution
Merchant Innovation
Ron Johnson’s New Company To Focus On Shopper Decisions
B2B Payments
WEX and Sinclair Oil Strike Long Term Contract
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Merchant Innovation
Apple Pay Launch Week By The Numbers: 46B, 58M and 1
B2B Payments
Tungsten Spent $6.5 Million for DocuSphere
Company Spotlight
Inside the Future of Commerce, Post Apple Pay
Alternative Financial Services
Death Threats, Fraudsters and Lawsuits
View All Articles ››