Fiserv, a large technology provider to many segments of the financial services space, has entered into an agreement with private equity firm Motive Partners. The deal, announced Thursday, will result in Motive Partners and its investors acquiring up to 60% of Fiserv’s Investment Services business. According to a statement, Fiserv will receive approximately $510 million in net after-tax proceeds and retain a 40% equity interest in the business.
Fiserv’s Investment Services business focuses on the wealth and asset management sector. Its platform provides end-to-end software solutions for the front, middle and back office.
A spokesperson for Fiserv had not responded to questions related to the agreement and unit's future roadmap by press time.
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