Fiserv acquires Catapult Technology
06 August 2001 | 940 views | 0
Fiserv has acquired Catapult Technology Limited, a London-based provider of private banking, treasury management and international banking technology solutions and services.
Five-year old Catapult supplies a suite of back and middle-office software products under the MetaBank brand name.
Keith Williams, Catapult managing director says of the deal: "With its global reach, Fiserv will help us distribute our products much more widely. The financial strength of Fiserv ensures we'll continue to provide the solutions, services and support our clients expect."
The company will become part of the CBS Worldwide division of Fiserv, and will retain its existing management team and staff, he says. Terms of the deal were not disclosed.
"Acquiring Catapult helps position Fiserv within a significant market," says Norman Balthasar, president and chief operating officer of the Fiserv financial institution group. "Financial institutions of all types are increasingly looking to offer highly personalised services to their top-tier clients, and are running ever more sophisticated treasury operations. Catapult solutions are designed to meet this specific need."