FISERV INC acquired Mobile Commerce Ltd. (M-Com), structured as Completed in the first quarter of 2011; one of three Q1-2011 acquisitions (with Maverick Network Solutions and Credit Union On-Line) acquired for an aggregate purchase price of approximately $50 million, net of cash acquired; individual price not disclosed..
Mobile Commerce Ltd. (M-Com) operates in Payments, is based in New Zealand. Mobile Commerce Ltd (M-Com) is an international mobile banking and payments provider that had been a strategic partner of Fiserv in developing its Mobile Money service. Fiserv acquired M-Com in the first quarter of 2011 to accelerate delivery of its mobile banking and payments capabilities.
Accelerated Fiserv's mobile banking and payments roadmap, a key element of its Mobile Money offering.
Advisory firms were not disclosed for this transaction.