Wednesday, December 17, 2008
Fiserv Buys Banking Services Firm
Fiserv Inc. announced Tuesday that it has agreed to acquire i_Tech Corp. from First Interstate BancSystem Inc., a $6 billion banking services organization headquartered in Billings, Montana. According to Fiserv, the $40 million transaction is expected to close by the end of the month. As a reseller of Fiserv's ITI Premier core banking system, i_Tech offers outsourced account-processing services, EFT and check processing services, to customers. Also based in Billings, i_Tech caters to some 158 financial institutions throughout a 13-state region in the Intermountain West and Midwest. Headquartered in Brookfield, Wis., Fiserv provides information technology services to the financial industry.