FISV - Fiserv agrees to acquire remaining ownership interest of Finxact for $650M

Fiserv (NASDAQ:FISV) has signed a definitive agreement to acquire Finxact, developer of the cloud-native banking solution that is powering digital transformation throughout the financial services sector. Fiserv was an early investor in Finxact and, under the terms, Fiserv will acquire the remaining ownership interest for ~$650M. The Finxact digital banking technology to accelerate innovation across the payment and financial services solutions spectrum for fintechs and financial institutions of all sizes. The transaction is subject to customary approvals and closing conditions and is expected to close later this year.

For further details see:

Fiserv agrees to acquire remaining ownership interest of Finxact for $650M