About This Deal

FISERV INC acquired Finxact, Inc. for $645 million, a transaction completed in April 2022, structured as All-cash.

Finxact, Inc. operates in Fintech / cloud-native digital banking. Finxact, Inc. ('Finxact') is a developer of cloud-native banking solutions powering digital transformation throughout the financial services sector; Fiserv acquired the remaining majority controlling ownership interest, advancing its digital banking strategy across account processing, digital and payments solutions.

It advances Fiserv's digital banking strategy, expanding its account processing, digital and payments solutions.

Cloud-native core banking platform that advances Fiserv's digital banking strategy. Disclosed in Fiserv's FY22 Form 10-K; integrated into the noted operating segment.

Deal Terms

Acquirer
FISERV INC
Target
Finxact, Inc.
Value
$645 million
Date
April 2022
Type
Full acquisition
Status
Ready

Transaction Details

Segment
Fintech / cloud-native digital banking
Structure
All-cash
Announced
April 1, 2022
Closed
April 1, 2022

In Their Words

Finxact, Inc. ('Finxact') is a developer of cloud-native banking solutions powering digital transformation throughout the financial services sector; Fiserv acquired the remaining majority controlling ownership interest, advancing its digital banking strategy across account processing, digital and payments solutions.Fiserv FY22 Form 10-K, Acquisitions note

Advisors

Advisory firms were not disclosed for this transaction.

Related Deals & Entities

Sources: Press release ↗

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