FISV - Fiserve to buy Ondot Systems to expand digital-first products

Fiserv (FISV) agrees to acquire Ondot Systems to expand its suite of products to enable clients to deliver digital-first and personalized experiences to their customers.The acquisition comes as consumers and businesses continue to embrace online and digital payment technology, a trend that's only been accelerated by the pandemic.Financial terms of the transaction weren't disclosed. The deal is expected to close in Q1 2021.Founded in 2011, Ondot processes more than 1B transactions per month and provides digital capabilities for over 30M cards. Fiserv said it plans to further develop the Ondot platform’s interplay between real-time authorization, user context, and artificial intelligence to engage users in-the-moment – before, during and after transactions.See Fiserv's cash acquisitions over the past 10 years:"By combining Ondot and Fiserv capabilities at scale, we plan to provide our clients with a unified digital experience, spanning card-based payments, digital banking platforms, core banking, and merchant solutions, enabling them to deliver

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Fiserve to buy Ondot Systems to expand digital-first products