Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Fiserv Buys Open Solutions to Grow Financial Services

Fiserv Inc. is buying Open Solutions Inc. for $55 million and taking on $960 million in debt as the account-processing provider seeks to bolster products and services for banks, credit unions and other financial firms.

The acquisition will deliver at least $75 million in additional annual revenue and cut costs by more than $50 million annually over the “next several years” for Fiserv, according to a statement yesterday. Fiserv expects revenue to grow 3 percent to 4 percent this year, while adjusted earnings per share will increase 15 percent to 18 percent. Analysts are predicting earnings growth of 12 percent to $5.77 a share on a 4.5 percent increase in sales to $4.72 billion, according to the average of estimates compiled by Bloomberg.

Brookfield, Wisconsin-based Fiserv, which has a market value of about $11 billion, is expanding the billing and account payments technology it provides for more than 16,000 financial firms, including lenders, billers, mortgage and leasing companies, as well as brokerage and investment firms.

Buying Glastonbury, Connecticut-based Open Solutions will add 3,300 clients worldwide, and products tailored mainly for community-based financial institutions that outsource their banking technology.

For 2012, Fiserv said it expects to report a 12 percent rise in adjusted earnings per share. That compares with its previous forecast for growth of 11 percent to 14 percent, and analysts’ projections for 13 percent growth to $5.17 a share. Fiserv will announce 2012 results and 2013 guidance on Feb. 5.

Fiserv’s shares, which advanced 35 percent in 2012, fell 2.9 percent to $80.47 at the close in New York.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.