FISERV INC acquires Finxact, Inc.
Snapshot
FISERV INC acquired Finxact, Inc. in April 2022. Finxact, Inc. is a Fintech / cloud-native digital banking business.
- Acquirer
- FISERV INC
- Target
- Finxact, Inc.
- Value
- (not disclosed)
- Date
- April 2022
- Type
- full acquisition
- Status
- ready
The deal at a glance
About this deal
FISERV INC acquired Finxact, Inc., a transaction completed in April 2022.
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.
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.
No advisory firms have been disclosed for this transaction.