Fintech provider Fiserv has completed the acquisition of ACI Worldwide’s community financial services (CFS) business.
ACI Worldwide in a statement said that the deal includes employees and customer contracts as well as technology assets and intellectual property.
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Fiserv president and CEO Jeffery Yabuki said: "Closing this acquisition allows us to add new digital capabilities and to welcome a group of new clients and talented associates to Fiserv."
ACI Worldwide president and CEO Phil Heasley said: "The sale of CFS allows us to bring deeper focus on key strategic areas, aligning investments, resources and energy on ACI’s strategic products and new high-growth initiatives.
"This move is part of our strategy to expand our position as a leading provider of software products and SaaS-based solutions facilitating real-time electronic and eCommerce payments for large financial institutions and intermediaries, retailers and billers worldwide."
In January 2016, Fiserv has agreed to acquire ACI Worldwide’s CFS bisoness for $200m in cash.
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By GlobalDataACI Worldwide, the Universal Payments (UP) company, supports electronic payments for more than 5,000 organizations across the world.
