MADISON, Wis. — While Fiserv is touting organic growth, it certainly is sticking to its acquisition knitting.
The technology giant announced plans to acquire CheckFree, the largest electronic bill pay and presentment firm. The all-cash deal is valued at $4 billion.
The merger marries Fiserv's strength in core processing with CheckFree's electronic commerce business. Fiserv has 6,000 core processing clients and CheckFree processes more than one billion transactions a year on the payments side. It has 21 of the top 25 financial institutions in its client base.
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