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Fiserv to Buy BillMatrix.(merging of financial)(Brief Article)
Brookfield, WI -- Fiserv has reached a deal to buy BillMatrix Corp., a provider of electronic bill payment services, for approximately $350 million, the companies said.
BillMatrix is expected to generate revenue of approximately $90 million in 2006.
The transaction is expected to close in the third quarter. Fiserv said the deal "is expected to be neutral to earnings in 2005 and slightly accretive to earnings in 2006."
Leslie Muma, Fiserv's president and CEO, said in a news release that the acquisition of BillMatrix will allow Fiserv to expand its electronic payment capabilities at a time when Americans are increasingly using the Internet and the telephone to pay bills.
"The acquisition of BillMatrix gives Fiserv a significant foothold in electronic bill payment technologies to enhance our extensive payments capabilities."
Pat Foy, president of ...
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