The Associated Press September 14, 2011, 6:02PM ET

Fiserv completes acquisition of CashEdge

Financial software maker Fiserv Inc. said Wednesday that it has completed its $465 million acquisition of payment software company CashEdge Inc.

The deal was first announced in June. Fiserv said the move expands its ability to provide person-to-person and other payment technologies to banks and credit unions.

Fiserv said it expects that the deal won't affect its adjusted earnings this year and will add to them next year.

Based in Brookfield, Wis., Fiserv's products include software that help institutions provide mobile banking and online banking, along with risk management and back-office functions. The company has about 19,000 employees.

CashEdge, based in New York, has about 300 employees. Fiserv said the acquisition will help it provide account-to-account transfers, small business payments and person-to-person payments.

CashEdge provides services to more than 500 clients, including many of the nation's largest banks. The transaction is expected to expand Fiserv's workforce in the United States and India.


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