Fiserv to acquire CheckFree
Acquisitions August 2nd, 2007
Fiserv to acquire CheckFree
Data-processing technology and services provider Fiserv has announced that they are now acquiring CheckFree Corp.
The deal is worth around $4.4 billion and with this Fiserv would get access to the technology owned by the online check and bill-paying company.
Market analysts believe that this deal would help Fiserv boost its revenues and reach a broader array of customers.
Fiserv further said that the deal would help them save $100 million in annual costs. It would also generate more than $125 million in revenues for the combined entity.
The two companies expect the deal to be complete by the end of the current year.
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I’m sure that this will make Fiserv the biggest data/tech services provider. I just read that a few directors and executives of either company have some past ties- which may have influenced and/or facilitated this deal. (NewsVisual’s article goes into some detail about these connections: http://www.newsvisual.com/newsvisual/2007/08/fiserv-and-chec.html)