Fiserv, a provider of data services and software to the financial sector, has acquired the customer base of struggling CRM vendor Sedona.
The Sedona user base comprises small and mid-sized financial services businesses in the US such as community banks, credit unions, insurance companies, and brokerage firms. An IBM business partner, Sedona's software is also utilised by third party vendors, such as Fiserv, Open Solutions and Sanchez. the
Financial terms of the agreement were not disclosed but it is expected to stave of a possible bankruptcy filing by Sedona, which reported a loss of $4.4 million on total revenue of $2 million in the nine months to end-Spetember 2002.