FISV - Fiserv closes acquisition of fintech Ondot

Fiserv (FISV) announces closing the acquisition of Ondot Systems, which provides financial institutions with a digital card services platform to drive cardholder engagement.Ondot processes more than one billion transactions per month and provides digital capabilities for more than 30 million cards.Fiserv intends to continue development on the Ondot platform.“Closing this transaction further expands our digital capabilities, enhancing our suite of integrated solutions to enable clients of all sizes to deliver frictionless, digital-first and personalized experiences to consumers,” says Fiserv CEO Frank Bisignano.FSIV shares are down 1.3% during a broader tech pullback after IBM and Intel reported earnings that disappointed on revenue and manufacturing plans, respectively.The Ondot acquisition was first announced in December. Terms weren't disclosed.

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Fiserv closes acquisition of fintech Ondot