Fiserv sells 55% of Lending Solutions business to Warburg Pincus

Fiserv sells 55% of Lending Solutions business to Warburg Pincus

Fiserv is to sell a majority stake in its Lending Solutions business to Warburg Pincus for $395 million.

Under the agreement, funds affiliated with Warburg Pincus will acquire a 55% share of the unit with Fiserv retaining a 45% stake.

The joint venture will include all of the automotive loan origination and servicing products and related operations of Fiserv, as well as its LoanServ mortgage and consumer loan servicing platform.

Fiserv will retain its Secure Lending product for e-contracting and its UniFi mortgage origination solution.

"We expect this partnership with Warburg Pincus to further enhance service and innovation across the lending marketplace," says Jeffery Yabuki, president and CEO, Fiserv. "In addition, we will continue to provide integration advantages to ensure that our collective clients get the best of both organisations to provide differentiated value for our clients, associates and shareholders."

The business will continue to be led by Bret Leech, currently president of Fiserv Lending Solutions.

The transaction, which is subject to customary closing conditions, is targeted to close in the first quarter of 2018.

Comments: (0)


Featured Job
All Jobs »
London, UK

Business Development Manager, Consulting Services (London)

Competitive base + commission + benefits

11 May