Fiserv Acquires Outsourcer
NU Online News Service, Sept. 1, 3:59 a.m. EDT?Fiserv Inc., a provider of information management systems, has acquired Results International Systems Inc., an outsourced service provider for the property-casualty industry.[@@]
The acquisition will contribute $7 million in annualized revenues to the Brookfield, Wis.-based firm. The purchase price was not disclosed.
Terry Wade, president of the Fiserv Insurance Group, said the Worthington, Ohio-based Results International will be a natural fit with Fiserv since the company offers outsourced services by using Fiserv Specialty insurance administration services.
"Fiserv will benefit by gaining an operation with a growing client base in the p-c outsourcing market, as well as the Artius Web-based products supporting the policy underwriting process," Mr. Wade said.
Results International also operates offices in Sheboygan, Wis., and New Delhi, India. The New Delhi facility provides software development and client service support.
All of the company's more than 80 employees are expected to join Fiserv.
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