TD AMERITRADE Closes Fiserv ISS Deal

Mon Feb 4, 2008 4:15pm EST
 
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Institutional Client Assets Now Exceed $100 Billion
OMAHA, Neb. & BROOKFIELD, Wis.--(Business Wire)--
TD AMERITRADE Holding Corporation (Nasdaq: AMTD) and Fiserv, Inc.
(Nasdaq: FISV) announced today that TD AMERITRADE has completed its
purchase of Fiserv's Investment Support Services (ISS) business for
approximately $225 million in cash plus the amount of acquired
regulatory capital. Additionally, based upon achievement of certain
revenue targets over the next 12 months, there is an earn-out of up to
$100 million payable to Fiserv.

   The acquisition adds approximately $25 billion in client assets to
TD AMERITRADE, including $15 billion held in more than 75,000 accounts
managed by approximately 500 independent Registered Investment
Advisors (RIAs) and $10 billion held in more than 2,000 plans
administered by 80 independent third party administrators (TPAs).

   "This deal reinforces our client segmentation strategy and
signifies our commitment to grow and invest in the RIA community,"
said Tom Bradley, president, TD AMERITRADE Institutional.

   The purchased business adds scale to TD AMERITRADE Institutional,
the third largest provider of comprehensive brokerage and custody
services in one of the fastest growing segments of financial services.
The institutional business now holds over $100 billion in assets under
management with over 4,500 RIAs and their clients.

   With the inclusion of Fiserv Trust Company, TD AMERITRADE
Institutional also adds significant growth to its 401(k) custody
business. Skip Schweiss, executive vice president of Fiserv ISS, will
direct TD AMERITRADE Institutional's efforts at the newly acquired
Fiserv Trust Company, reporting to Tom Bradley.

   Fiserv, Inc.

   "We believe this deal will enhance services for clients," said
Jeffery Yabuki, president and chief executive officer of Fiserv. "At
the same time, we will continue to expand our technology leadership
position across the financial services industry."

   Fiserv, Inc. also expects to close its previously announced
transaction with Robert Beriault Holdings, Inc. by the end of the
second quarter of 2008.

   AMTD-G

   About TD AMERITRADE Institutional

   TD AMERITRADE Institutional is a leading provider of comprehensive
brokerage and custody services to more than 4,500 fee-based,
independent Registered Investment Advisors (RIAs) and their
clients.(1) Our advanced technology platform, coupled with personal
support from our dedicated service teams, allows investment advisors
to run their practices more efficiently and effectively while
optimizing time with clients.

   About TD AMERITRADE Holding Corporation

   TD AMERITRADE Holding Corporation, through its brokerage
subsidiaries,(2) provides a dynamic balance of investment products and
services that make it the investment firm of choice for millions of
retail investor and independent registered investment advisor (RIA)
clients. Listed by Forbes as one of America's best big companies, the
Company offers a full spectrum of investment services, including a
leading active trader program, intuitive long-term investment
solutions and a national branch system, as well as relationships with
one of the largest independent RIA networks.(3) The Company's common
stock trades under the ticker symbol AMTD. For more information,
please visit www.amtd.com.

   About Fiserv, Inc.

   Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides
information management and electronic commerce systems and services to
the financial and insurance industries. Leading services include
transaction processing, outsourcing, electronic bill payment and
presentment, investment management solutions, business process
outsourcing (BPO), software and systems solutions. Headquartered in
Brookfield, Wis., the company serves more than 21,000 clients
worldwide and is the leading provider of core processing solutions for
U.S. banks, credit unions and thrifts. Fiserv was ranked the largest
provider of information technology services to the financial services
industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. In
2007, the company completed the acquisition of CheckFree, a leading
provider of electronic commerce services. Fiserv and CheckFree had
more than $4.5 billion in combined pro forma total revenue for 2006.
For more information, please visit www.fiserv.com.

   FISV-G

   (1)TD AMERITRADE Institutional, Division of TD AMERITRADE, Inc.,
member FINRA (www.finra.org) / SIPC (www.SIPC.org).

   (2)TD AMERITRADE, Inc., member FINRA/SIPC, receives clearing and
custodial services from TD AMERITRADE Clearing, Inc., member
FINRA/SIPC. TD AMERITRADE and TD AMERITRADE Clearing, Inc. are
subsidiaries of TD AMERITRADE Holding Corporation.

   (3)Information on the Forbes award is available at
www.forbes.com/platinum.

TD AMERITRADE Holding Corporation
For Media:
Jim Frawley, 402-827-8928
Communications and Public Affairs
james.frawley@tdameritrade.com
or
For Investors:
Tim Nowell, 402-597-8440
Investor Relations
timothy.nowell@tdameritrade.com
or
Fiserv
For Media:
Lori Stafford, 262-879-5130
lori.stafford@fiserv.com
or
For Investors:
David Banks, 262-879-5055
david.banks@fiserv.com

Copyright Business Wire 2008

 

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