FISERV INC acquired Finxact, Inc. for $645 million, a transaction completed in April 2022, structured as All-cash.
Finxact, Inc. operates in Fintech / cloud-native digital banking. Finxact, Inc. ('Finxact') is a developer of cloud-native banking solutions powering digital transformation throughout the financial services sector; Fiserv acquired the remaining majority controlling ownership interest, advancing its digital banking strategy across account processing, digital and payments solutions.
It advances Fiserv's digital banking strategy, expanding its account processing, digital and payments solutions.
Cloud-native core banking platform that advances Fiserv's digital banking strategy. Disclosed in Fiserv's FY22 Form 10-K; integrated into the noted operating segment.
Finxact, Inc. ('Finxact') is a developer of cloud-native banking solutions powering digital transformation throughout the financial services sector; Fiserv acquired the remaining majority controlling ownership interest, advancing its digital banking strategy across account processing, digital and payments solutions.Fiserv FY22 Form 10-K, Acquisitions note
Advisory firms were not disclosed for this transaction.