Fiserv Completes CheckFree Acquisition

Fiserv Inc., a provider of information technology services to the financial industry, has completed its acquisition of CheckFree Corp., a company specializing in financial electronic commerce services and products.

"Combining our two companies' broad range of market-leading capabilities will provide a platform to deliver unprecedented innovation in financial services technology," says Jeffery Yabuki, president and CEO of Fiserv.

More than 3,000 financial services Web sites use the electronic billing and payment services provided by CheckFree, and growth will continue as consumers and businesses move from paper to electronic processes. CheckFree's client base of large financial institutions complements Fiserv's base of more than 18,000 clients, the companies say, adding that the newly combined company has the expertise, solutions and scale to support financial institutions of any size in a number of areas, including core processing, electronic billing, risk management, payments and wealth management/managed accounts.


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