News

Fiserv to acquire ACI Community Financial Services business

CFS provides a suite of digital banking and e-payments solutions that support online, mobile and tablet banking on a single platform.

January 22, 2016

Fiserv Inc., a provider of fintech solutions, has entered into a definitive agreement with ACI Worldwide, a provider of electronic payment and banking solutions, to acquire the assets of its Community Financial Services business in an all-cash transaction valued at $200 million.

According to a Fiserv press release, CFS provides financial institutions with a suite of digital banking and electronic payments solutions — including Architect Banking, which supports online, mobile and tablet banking for retail banks and small business customers on a single platform.

“We are pleased to add these strong digital banking capabilities, which will further enable financial institutions to serve their customers in today’s dynamic world,” Fiserv President and CEO Jeffery Yabuki said in a statement. “We are also excited to add a talented team of associates who share our vision for creating value for clients through innovation and service excellence.”

Technology solutions included in the transaction include Architect Banking; SSB Internet Banking; WebFederal Internet Banking; Advantage Internet Banking solutions; Advantage Consolidated Bank Bill Pay; and ACI Defense Services, a full-service security solution.

The transaction is subject to regulatory approval and other customary closing conditions and is anticipated to close in the first quarter of 2016.