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Too many acquisitions pushed pending Metavante spin-off
May 28, 2007
Digital Transactions:The process that led to Metavante Corp.'s pending spin-off from Milwaukee-based bank-holding company Marshall & Ilsley Corp. started two years ago, according to a registration statement M&I filed this week with the Securities and Exchange Commission. The filing notes that under Frank R. Martire, who became Metavante's president and chief executive in 2003, Metavante embarked on a strategy of growth through acquisitions. Between March 2003 and March 2007, Metavante completed 17 acquisitions worth a total of $1.6 billion. The acquisitions used a significant amount of M&I's capital - a problem for a banking company that must meet capital standards set by regulators.
OtherTransaction ProcessingEFT NetworksBanking Executive SummaryNorth AmericaPublic CompaniesBank / Credit Union
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