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Fiserv Completes Sale of Majority Interest in Investment Services Business to Motive Partners
BROOKFIELD, Wis.--(BUSINESS WIRE)-- Fiserv, Inc. (NASDAQ: FISV), a global provider of payments and financial services technology solutions, today announced
About this update from Fiserv, Inc.
[{"type":"text","content":" BROOKFIELD, Wis.--(BUSINESS WIRE)--\nFiserv, Inc. (NASDAQ: FISV), a global provider of payments and financial services technology solutions, today announced the completion of its previously announced transaction with Motive Partners, under which Motive Partners-led investors have acquired a 60% stake in the Investment Services Business of Fiserv. Fiserv received approximately $510 million in net after-tax proceeds and retained a 40% equity interest in the business.\n\n\nAbout Motive Partners\n\n\nMotive Partners is a specialist private equity firm with offices in New York City and London, focusing on technology-enabled business and financial services companies serving four core customer segments: banking & payments, capital markets, asset management and insurance. Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies. More information on Motive Partners can be found at www.motivepartners.com.\n\n\nAbout Fiserv\n\n\nFiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500 and is among FORTUNE World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.\n\n\nFISV-G\nView source version on businesswire.com: https://www.businesswire.com/news/home/20200219005546/en/\n\nMedia Relations:\nBritt Zarling\nVice President,\nCorporate Communications\nFiserv, Inc.\n+1 414-378-4040\[email protected]\n\nSam Tidswell-Norrish\nCommunications\nMotive Partners\n+1 212-651-0200\[email protected]\n\nInvestor Relations:\nPeter Poillon\nInvestor Relations\nFiserv, Inc.\n+1 212-266-3565\[email protected]\n\nSource: Fiserv, Inc.","length":4744,"tagName":"div"}]