Fiserv to acquire Precision Computer Systems

Fiserv to acquire Precision Computer Systems

Fiserv has signed an agreement to acquire Precision Computer Systems (PCS), a provider of bank processing solutions based in Sioux Falls, South Dakota.

The annualised processing and services revenues for PCS are approximately $25 million. Terms of the transaction were not disclosed.

Formed in 1982, PCS currently employs 235 people and directly supports more than 730 clients ranging in size from de novo to multi-billion dollar financial institutions. Once the acquisition is completed, PCS will merge its operations with Information Technology Inc. (ITI), a Fiserv business located in Lincoln, Nebraska. PCS will continue to operate out of offices in Sioux Falls and market under the PCS name.

Rodney Poskochil, president of the Fiserv bank systems and e-products group says ITI's solutions in cheque and image processing will be integrated with PCS' core banking software. PCS also provides Internet banking, imaging and marketing solutions, and the related equipment.

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