Fiserv and CheckFree have entered into a definitive agreement whereby Fiserv will acquire CheckFree in an all-cash transaction valued at approximately US$4.4bn. Under terms of the agreement, CheckFree shareholders will receive US$48 in cash for each share of common stock. Fiserv hopes that the combined organisation will deliver a wider range of product and service offerings for customers, as well as provide opportunities for improved growth and enhanced efficiency, including the ability to bring new solutions to market faster. In conjunction with the closing of the transaction, Pete Kight, CheckFree chairman and CEO, will be employed by Fiserv and appointed to its board of directors. Fiserv expects to realize more than US$100m in annualised cost savings and more than US$125m in annualised revenue synergies. For 2008, the transaction is expected to be added to Fiserv’s underlying cash earnings per share. The transaction is expected to be completed by 31 December 2007, subject to regulatory approvals, approval by the CheckFree shareholders and customary closing conditions. After closing, the combined company will have pro-forma revenue of about US$6bn and employ more than 27,000 associates.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more