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Fiserv Inc Acquires Open Solutions Inc


Monday, 14 Jan 2013 04:00pm EST 

Fiserv Inc announced that it has acquired Open Solutions Inc., a provider of collaborative, enterprise core account processing technology for financial institutions. The purchase price was $55 million, and Fiserv assumed approximately $960 million of debt. In conjunction with the acquisition, Fiserv will benefit from an acquired tax asset with a net present value at the time of purchase of approximately $165 million. Open Solutions is a Glastonbury, Conn.-based technology provider to banks, thrifts and credit unions. Through this acquisition, Fiserv will add several new technologies to its offerings, including DNA, a real-time, open technology account processing platform. 

Company Quote

64.65
0.18 +0.28%
2 Sep 2014