Fintech provider Fiserv has agreed to acquire ACI Worldwide’s community financial services business in a $200m deal.
Under the all-cash transaction, Fiserv will purchase a suite of digital banking and electronic payments products from ACI Worldwide including Architect Banking, SSB Internet Banking, WebFederal Internet Banking and Advantage Internet Banking solutions; Advantage Consolidated Bank Bill Pay; and ACI Defense Services.
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Subject to regulatory approval, the deal is scheduled to close in the first quarter of 2016.
Fiserv president and CEO Jeffery Yabuki said: "We are pleased to add these strong digital banking capabilities which will further enable financial institutions to serve their customers in today’s dynamic world. We are also excited to add a talented team of associates who share our vision for creating value for clients through innovation and service excellence."
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