Fiserv finalizes CheckFree acquisition

Fiserv Inc., a Brookfield, Wis.-based technology-solutions provider, today announced the completion of its acquisition of CheckFree Corporation [based in Norcross, Ga.] for around $4.4 billion in cash. While it is probably better known for its electronic-bill-payment and banking applications, CheckFree is prominent in the advisory community for its processing and operations services for portfolio management and managed accounts. The two companies together will have a wide-ranging expertise and will be able to provide large financial services companies everything from core processing — including many types of payment processing — to electronic billing, risk management services, logistics services, as well as wealth management and managed accounts services. The companies in total had more than $4.5 billion in revenue for 2006. The deal was first announced back in August. Today's news follows the company’s announcement last month that it intended to sell its health-related businesses to United Health Group Inc. [based in Minnetonka, Minn.] for $775 million in cash and its $225 million cash deal in May to sell TD Ameritrade [Holding Corp. of Omaha Neb.] its custody business.