Metavante makes government move with deal for Link2Gov

Metavante makes government move with deal for Link2Gov
Tags: Bank / Credit Union, Company Profiles, Debit / Credit, EFT Networks, Transaction Processing
October 11, 2005

Digital Transactions: Metavante Corp. is buying Link2Gov Corp., a 10-year-old payments processor for governmental agencies, utilities and healthcare. Terms of the deal, which is expected to close by year's end, were not disclosed. The acquisition represents the latest in a string of deals Milwaukee-based Metavante has consummated in the past 18 months in electronic transaction processing, including its purchases of the NYCE electronic-funds transfer network and of Advanced Financial Solutions Inc., including AFS's Endpoint Exchange image-exchange network for electronic check processing.

The deal also follows by two months news of the acquisition of BillMatrix Corp., a processor of electronic bill payments, by Fiserv Inc., a major Metavante competitor.