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BROOKFIELD, Wis. — Fiserv announced earlier this week that
it has acquired Open Solutions, a provider of collaborative, enterprise core
account processing technology for financial institutions.

Officials said the purchase price was $55 million, and
Fiserv assumed approximately $960 million of debt.

In conjunction with the acquisition, the company indicated 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 said
it will add several new technologies to its offerings, including DNA, a
real-time, open technology account processing platform.

"DNA is an attractive alternative for financial institutions
that seek a modern technology architecture and want to benefit from the power
of data and integration," officials said. "The platform also enables
collaboration and technology-sharing through DNAcreator and DNAappstore to
deliver localized and unique customer-facing value."

Through this acquisition, Fiserv will also add several other
key solutions, including the CUnify and TotalPlus account processing platforms,
Weiland Account Analysis for commercial account analysis, tools that enable the
creation and sharing of client-developed functionality, and Raddon Financial
Group, which offers performance consulting services.

Open Solutions serves more than 3,300 clients worldwide,
including more than 800 account processing clients. Officials insisted these
clients can benefit from the broad array of add-on solutions offered by Fiserv,
such as its CheckFree RXP electronic bill payment service, ACCEL/Exchange
payments network, debit processing services, Popmoney social payments service,
Corillian Online banking, Mobiliti mobile banking, and a variety of other
products and services that can create opportunities for financial institutions
to grow and prosper.

"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," Fiserv president
and chief executive officer Jeffery Yabuki said.

"Open Solutions' strong team of associates is intently
focused on client success and committed to collaborative technology, which will
enhance the value we provide to our clients," Yabuki continued.

Yabuki went on to mention this acquisition adds technology
solutions, brings a base of high-quality account processing clients and
provides new opportunities for Open Solutions clients to create value for their
customers and members.

Over time, Fiserv expects to add some of the features
contained in its Acumen account processing platform to DNA.

"This combination will provide financial institutions —
including credit unions, banks and thrifts — with a technology platform that
enables the delivery of a differentiated experience along with integrated
solutions," the company said. "This enhanced technology will also be available
for those institutions that want agility and speed in the United States, and in
selected areas around the world."

Louis Hernandez Jr., chairman and CEO of Open Solutions also
commented on the deal.

"We are extremely proud of the innovative products Open
Solutions has developed since its founding in 1992, and the strong business
that we have built over the years," Hernandez said.

"Joining Fiserv provides us with significant resources that
will benefit our clients and increase market momentum," he continued. "We are
delighted to join Fiserv, a leader in the delivery of innovative financial
services technologies."

Fiserv expects to achieve annualized revenue synergies in
connection with the acquisition of at least $75 million, and annualized cost
synergies in excess of $50 million, over the next several years.

Additional information about the transaction is available at
www.fiserv.com.

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