19 August 2017
Find out more

Fiserv sells securities clearing unit to Fidelity Investments

17 December 2004  |  6162 views  |  0 cash - dollars - lots of

Fiserv has signed a definitive agreement to sell its securities clearing operation BHC Investments to National Financial, a unit of Fidelity Investments, for $365 million.

The transaction is expected to be complete in the first quarter of 2005, with transition of Fiserv's correspondent clients and securities businesses to National Financial and Fidelity Brokerage Company expected to be complete by the end of next year.

Fiserv does not expect to make a material gain or loss as a result of the transaction.

The vendor says the sale of the unit will enable it to focus on its financial institution, health administration, insurance and trust businesses.

Leslie Muma, president and CEO, Fiserv, adds: "This transaction also provides us with additional capital to enhance our already strong financial position and improve our strategic flexibility.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Fiserv negotiates cheque processing deal with Australian banks

Fiserv negotiates cheque processing deal with Australian banks

26 November 2004  |  5641 views  |  0 comments
Fiserv acquires CheckAgain

Fiserv acquires CheckAgain

19 October 2004  |  4032 views  |  0 comments
Fiserv's Muma to step down

Fiserv's Muma to step down

05 October 2004  |  3434 views  |  0 comments
Fiserv buys Results International Systems

Fiserv buys Results International Systems

01 September 2004  |  3923 views  |  0 comments
Fiserv clearing unit covers $10 million fraudulent trading loss

Fiserv clearing unit covers $10 million fraudulent trading loss

31 March 2003  |  3244 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.dorsum.euvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
8960 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7826 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
7202 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6447 views 1 | 5 tweets | 3 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
6311 views comments | 11 tweets | 9 linkedin

Featured job

Find your next job