TMCnet News
Fiserv acquires AdviceAmericaJun 07, 2010 (Datamonitor Financial Deals Tracker via COMTEX) -- Fiserv, Inc. has acquired AdviceAmerica, Inc., a provider of integrated advisor solutions to financial institutions and independent advisors. Both the companies are based in the US. Fiserv is a provider of information management and electronic commerce systems for the financial services industry. Following the acquisition, AdviceAmerica will become part of the Investment Services unit of Fiserv and all employees of AdviceAmerica are expected to join Fiserv as part of the transaction. Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Completed: 2010-06-07 Deal Participants Target (Company) AdviceAmerica, Inc. Acquirer (Company) Fiserv, Inc. Deal Rationale The acquisition will extend Fiserv's capabilities into front-office applications, such as financial planning, customer relationship management (CRM) and proposal tools that support the growing needs of financial advisors and bank trust departments. It will also expand the Fiserv's portfolio to enable an integrated, scalable solution for providing holistic advice based upon a broader view of an entire household's assets and goals. |