Thursday, September 15, 2011

FISV: Closes Acquisition, Continues Announcing New Clients

Yesterday, Fiserv (FISV) closed their acquisition of CashEdge Inc., “a leading provider of consumer and business payments technologies. The transaction is expected to be neutral to adjusted earnings per share in 2011 and accretive to adjusted earnings per share in 2012.”

This move strengthens Fiserv’s position as a one-stop shop for large financial institutions that are looking for IT solutions. Management’s confidence during the Q2 conference call has been validated over the last two weeks as FISV has announced a diverse group of new clients: Fulton Financial Corporation ($16 billion in assets), Heartland multibank holding company ($4B), TruStone credit union ($684M), Ping An Bank in China (1.172RMB/$200M)

Fiserv closed up 1.6% today.


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