BROOKFIELD, Wis.--(BUSINESS WIRE)--Feb. 19, 2020--
Fiserv, 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.
About Motive Partners
Motive 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.
Fiserv, 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.
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Source: Fiserv, Inc.