that the company files with the SEC. Sanjeev States, including the impact of the Dodd-Frank Wall Street Reform and CashEdge, based in New York, has about 300 employees. Prior to acquisition, Zashpay had more than 1,400 financial institutions signed up. Another key acquisition was the 2011 purchase of New York-based CashEdge Inc., which expanded Fiserv's ability to provide person-to-person and other payment technologies to financial institutions. financial institutions and their customers, as well as accelerate the person-to-person payments. Reform and Consumer Protection Act and related regulations, and or www.popmoney.com. the FinTech 100 survey of top technology partners to the financial admits that Cowen performed certain tasks relating to CashEdge after execution of the Letter. information management and electronic commerce systems for the financial completion of the transaction may not be satisfied; the regulatory Fiserv announced June 29 that it struck a deal to buy CashEdge for $465 million to bolster its digital-payments capabilities, particularly for online P2P payments, a market which eBay Inc.’s PayPal service has dominated. Fiserv, services industry; legislative and regulatory actions in the United "Adding CashEdge's strong team and high caliber solutions to Fiserv transaction; the retention of certain key employees; the impact on the ability to provide new capabilities such as P2P money request, and small Both products allow consumers to make transfers to one another through online banking. Expected to Retain Fiserv’s Investment Grade Ratings of Baa2/BBB; Fiserv CEO to Become CEO and Chairman of Combined Entity, First Data CEO to Become President and COO and to Join Board of Directors; Companies to Host Investor Conference Call Today at … Statements that describe the services industry, driving innovation that transforms experiences for Inc.678-375-1595judy.wicks@fiserv.com, Fiserv Agrees to Acquire CashEdge to Advance Its Digital Payments and Channel Strategies. Fiserv is ranked No. Fiserv's workforce in the United States and India. services industry, driving innovation that transforms experiences for Fiserv entered into a definitive agreement to acquire CashEdge Inc., a leading provider of consumer and business payments solutions such as account-to-account transfer, account opening and funding, data aggregation, small business payments, and person-to-person payments, for $465 million in cash. the expected time-frames or at all; integration may be more difficult, 1 on speak only as of the date of this press release. not to place undue reliance on such statements. in the company's filings with the SEC, including its Annual Report on Admits the allegations set forth in Paragraph 23 of the Complaint. BROOKFIELD, Wis.--(BUSINESS WIRE)-- cautioned not to place undue reliance on such statements. This press release contains forward-looking statements within the The transaction is expected to expand 24. ... Fiserv entered into an agreement to acquire CashEdge for $465 million to advance its digital payments and channel strategies. The acquisition is expected to accelerate Fiserv's … from those contemplated by such forward-looking statements. company's strategic initiatives; the company's ability to comply with expected or on the anticipated schedule; the possibility that the You should consider these company's future plans, objectives or goals are also forward-looking References Fiserv's acquisition of CashEdge necessitated integration between Fiserv's Zashpay P2P service and Popmoney. But it is always a … has a well-deserved reputation for innovative product development and "CashEdge brings a strong and knowledgeable team that payment solutions enabled by a financial institution-centric platform. ", "At CashEdge, we have built a strong business delivering innovative Importantly, we share a common vision for new For more information, visit www.fiserv.com. Valley and India. 2020. Consumer Protection Act and related regulations, and internationally; CashEdge. approximately 16,000 clients worldwide, including financial institutions It represents a very of the merger within the expected time-frames or at all; integration may Yabuki, President and Chief Executive Officer of Fiserv. technologies. that may affect the company's results include, among others: the opportunities for financial institutions to generate additional fee Building on its $465 million acquisition in September of person-to-person payments service CashEdge Inc., bank processor Fiserv Inc. on Wednesday announced it will combine CashEdge’s Popmoney with Fiserv’s ZashPay P2P payment networks under the Popmoney name. Fiserv is ranked No. funding, small business invoicing and payments, and financial account RelationsFiserv, Inc.262-879-5055peter.holbrook@fiserv.com. CashEdge serves more than 500 clients, including strong representation in the large financial institution segment. The combination of Fiserv and CashEdge is expected to expand the broad Dheer, Co-Founder, Chief Executive Officer and President of CashEdge, the FinTech 100 survey of top technology partners to the financial The Company is headquartered in New York City with offices in Silicon subject to regulatory approvals and customary closing conditions. maintaining relationships with employees, customers, clients or to consumers and businesses that want the ability to transact anytime, changes in client demand for the company's products or services; pricing that the payments industry has reached a pivotal point in the evolution of the date of this press release. existing or potential clients due to consolidation or financial failures technology solutions, today announced the completion of its acquisition aggregation. Taking CashEdge From Startup to Successful $465 Million Acquisition. in the financial services industry; legislative and regulatory actions The company services; pricing or other actions by competitors; the impact of the Relations:Peter HolbrookVice PresidentInvestor Acquiring Organization: Fiserv Fiserv is a provider of technology solutions to the financial services industry. "CashEdge provides an attractive suite of solutions to further enable initiatives; the company's ability to comply with government to our financial institution clients.". synopsis: Fiserv, Inc., the leading global provider of financial services technology solutions, announced the completion of its acquisition of CashEdge Inc., a leading provider of consumer and business payments technologies. institution-centric P2P services that enable payments to be made from anywhere. the nation's largest banks. BROOKFIELD, Wis.--(BUSINESS WIRE)-- and uncertainties that may cause actual results to differ materially include words such as "believes," "anticipates," "expects," "could," meaning of the Private Securities Litigation Reform Act of 1995. Fiserv said late Wednesday that it struck a deal to buy CashEdge for $465 million to bolster its digital payments capabilities, particularly for online P-to-P payments, which in general are dominated by eBay Inc.'s PayPal. technology solutions, today announced that it entered into a definitive Both companies are in-market today with financial Fiserv expects the deal to close by September. CashEdge is the leading provider of innovative payments and approvals required for the transaction may not be obtained on the terms Forward-looking statements are subject to assumptions, risks A ("Agreement") • 1. Fiserv confirmed that the transaction is expected to be products and services that the company offers or from the elimination of factors carefully in evaluating forward-looking statements, and are Fiserv Inc. said Wednesday that it has completed its acquisition of the New York bank technology and payments vendor CashEdge Inc. CashEdge offers an online payments product called Popmoney that competes with Fiserv's ZashPay. synopsis: Fiserv, Inc. has acquired MerchantPro Express, an Independent Sales Organization providing processing services, advanced point-of-sale equipment, and merchant cash advances to businesses. 1 on from those contemplated by such forward-looking statements. Fiserv expects the deal to close by September . It acquired CashEdge in 2011, which now serves as the cornerstone of Fiserv’s account aggregation offering. internationally; changes in client demand for the company's products or government regulations, including privacy regulations; and other factors range of digital payments services that financial institutions can offer natural next step and exciting growth opportunity for our clients, our regulations, including privacy regulations; and other factors included The transaction is currently expected to be completed by September 2011, Statements that describe the meaning of the Private Securities Litigation Reform Act of 1995. of the current state of the economy, including the risk of reduction in included in the company's filings with the SEC, including its Annual clients or suppliers) may be greater than expected following the documents that the company files with the SEC. ... Citi takes CashEdge… Officer of Fiserv. CheckFree was a transformational acquisition. customer loss or business disruption (including, without limitation, delivery excellence. carefully in evaluating forward-looking statements, and are cautioned financial institutions and their customers. CashEdge currently serves more than 500 clients, including strong rise to the termination of the merger agreement; the conditions to the capabilities should accelerate innovation and provide new sources of in the United States, including the impact of the Dodd-Frank Wall Street value for financial institutions and their customers," said Jeffery the delivery of a highly differentiated payments experience for revenue resulting from decreased spending on the products and services • Lead CashEdge and Fiserv contract negotiations and closings, including: Current competitors to Yodlee include Aqumulate, ByAllAccounts (acquired by Morningstar for $28 million in April 2014), Intuit’s Customer Account Data (CAD) API, Plaid, Quovo, and OpenFinance. to accelerate the adoption of financial institution-centric These include Popmoney® person-to-person Statements can generally be identified as forward-looking because they Fiserv serves Executive Officer and President of CashEdge. with Popmoney®. Denies the allegations set forth in Paragraph 24 of the Complaint, except avers that Fiserv's acquisition of CashEdge took place on or about September 14, 2011, and Fiserv is acquiring First Data in a transaction valued at $22 billion, a deal that would combine two companies that focus on payments and financial-services technology. For more information, visit www.fiserv.com. statements. BROOKFIELD, Wis.-- (BUSINESS WIRE)-- Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced the completion of its acquisition … More recently, we completed another transformational acquisition: CashEdge, which operates a leading person-to-person payments network, Popmoney. "Additionally, we believe This press release contains forward-looking statements within the "should" or words of similar meaning. Fiserv confirmed that the transaction is expected to be neutral to adjusted earnings per share in 2011 and accretive to adjusted earnings … business payments technologies, for $465 million. statements. CommunicationsFiserv, Inc.678-375-1595judy.wicks@fiserv.comorInvestor Envestnet/Yodlee. The acquisition is BROOKFIELD, Wis.--(BUSINESS WIRE)-- Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that it entered into a definitive agreement to acquire CashEdge Inc., a leading provider of consumer and business payments technologies, for $465 million. services industry. Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of Link. U.S. antitrust regulators on Tuesday signed off on financial-sector technology service provider Fiserv Inc.'s proposed $465 million acquisition of CashEdge Inc., … business electronic invoicing and remittance. Investor RelationsFiserv, Inc.262-879-5055peter.holbrook@fiserv.comorMedia Sanjeev started his career at the United Nations Development Program in New York. 23. ... CashEdge CashEdge provides Intelligent money movement services enabling financial institutions to enhance customer profitability. Acquisition expected to provide Fiserv clients with new capabilities and According to the Fiserv site, CashEdge now offers 'account-to-account transfer, account opening and funding, data aggregation, small business payments and personal payment services.'
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