MILWAUKEE - Metavante Corp., the financial technology subsidiary of Marshall & Ilsley Corp., has completed its acquisition of Carrollton, Texas-based AdminiSource Corp. The deal was first announced in November.
According to a news release, the company is expected to become a Metavante subsidiary and will continue to operate under the AdminiSource name.
The acquisition of AdminiSource, a provider of healthcare-payment distribution services, marks Metavante's third to expand solutions focused on the consumer-directed healthcare payments area. The expansion began with the 2003 acquisition of Printing for Systems, a provider of identification cards to the healthcare-insurance industry, and continued with the 2005 acquisition of MBI Benefits, a provider of benefits cards and electronic payment services for employee benefit and consumer-directed healthcare accounts.
