FISERV INC acquired Open Solutions Inc. for $55 million, a transaction completed in January 2013, structured as Acquisition for a $55 million purchase price with approximately $960 million of debt assumed..
Open Solutions Inc. operates in Financial Institution Services, is based in Glastonbury, Connecticut, USA. Open Solutions is a provider of collaborative, enterprise core account-processing technology for banks, thrifts and credit unions, best known for its real-time, open DNA platform. Fiserv acquired Open Solutions on January 14, 2013 for a purchase price of $55 million and assumed approximately $960 million of debt.
Added the real-time, multi-charter DNA account processing platform (along with CUnify, TotalPlus, Weiland account analysis and Raddon consulting) and created opportunities to cross-sell Fiserv's electronic bill payment, payments-network, debit, mobile and online banking products.
Open Solutions provides several growth opportunities, including a real-time account processing capability that serves multiple charter types, languages and currencies on a single platform.Jeffery Yabuki, President and Chief Executive Officer of Fiserv
Advisory firms were not disclosed for this transaction.