Big banking tech companies recently have been hungrily gobbling up smaller companies and the question is, Will this consolidation continue? The other question, Is this good, or bad, for credit unions?
Recent acquisitions include Brookfield, Wis.-based Fiserv swallowing Glastonbury, Conn.-based Open Solutions Inc. for around $1 billion, mainly debt assumption; Jacksonville, Fla.-based FIS digested Larkspur, Calif. based-mFoundry for about $120 million; and Naples, Fla.-based ACI Worldwide bought Chantilly, Va.-based Online Resources Corp. for about $263 million.
The common wisdom is to buckle up because there will likely be more such deals.
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