BROOKFIELD, Wis. and NORCROSS, Ga. — Fiserv, already a giant in the financial services tech scene, will become an even bigger player with today's announcement that it is acquiring CheckFree, one of the pioneers and largest players in online bill payment.
In the all-cash deal, CheckFree shareholders will receive $48 for each share of common stock. The deal is valued at $4.4 billion.
The deal is expected to close by yearend. This is the biggest acquisition under new Fiserv President/CEO Jeff Yabuki. "An important objective of the transaction is to tightly integrate electronic bill payment and settlement capabilities with our core account processing and risk management solutions to create a unique value proposition unrivaled in the marketplace today," said Yabuki.
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