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OSI, Fiserv and Metavante Show Acquisitions are Still Hot

WEST PALM BEACH, Fla. - Acquisitions in the technology space show no signs of slowing down. Three technology firms that have a presence in the credit union market have made acquisitions. Core processor Open Solutions, Inc. continues what has been a flurry of acquisitions. OSI has purchased Datawest Solutions, Inc.,...

By Staff Writer | Updated on September 07, 2004

WEST PALM BEACH, Fla. – Acquisitions in the technology space show no signs of slowing down. Three technology firms that have a presence in the credit union market have made acquisitions. Core processor Open Solutions, Inc. continues what has been a flurry of acquisitions. OSI has purchased Datawest Solutions, Inc., a Canadian-based core processing vendor in a stock swap deal. OSI said this will allow it to expand into the Canadian and international marketplaces. It will operate Datawest through a wholly-owned newly incorporated Canadian subsidiary. The always acquisitive Fiserv has purchased Pharmacy Fulfillment, Inc., a provider of pharmacy services in Huntingdon Valley, Pennsylvania, in a move to bolster its Fiserv Health business. Fiserv said the acquisition will contribute approximately $10 million in annualized revenues. Finally, Metavante, which has been on an acquisition tear, has acquired credit card payment firm Response Data Corp., Parsippany, N.J., which had $730 million in revenues last year. The deal brings with it two of the largest banks as customers – Bank of America and J.P. Morgan Chase & Co. This is Metavante’s fourth deal this year. Metavante is a subsidiary of the Milwaukee-based bank Marshal & Ilsley.

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