Fiserv to buy U.S. Bancorp unit’s debt-card processing, ATM services and MoneyPass for $690 million
Fiserv Inc. said Tuesday it will pay $690 million to buy the debit card processing, ATM Managed Services and MoneyPass network of U.S. Bancorp’s Elan Financial Services. Fiserv said it expects the acquired business, which has revenue of over $170 million, to add to adjusted earnings per share in 2019. “We continue to see opportunities for financial institutions to enhance the card-based payments they provide to their customers in an always-on, anytime access world,” said Fiserv Chief Executive Jeffery Yabuki. Fiserv and U.S. Bancorp shares were still inactive in premarket trade. Fiserv’s stock has rallied 23% year to date, while U.S. Bancorp shares have edged up 1.6% and the S&P 500 has gained 9.2%.
Source : MTV
