Fiserv To Acquire Debit Card Processing, ATM Managed Services Of Elan

(RTTNews) - Fiserv, Inc. (FISV) announced it has agreed to acquire the debit card processing, ATM Managed Services and MoneyPass surcharge free network of Elan Financial Services, a unit of U.S. Bancorp (USB). At closing, Fiserv will pay a purchase price of approximately $690 million. The acquired business has revenue of more than $170 million and Fiserv anticipates the transaction to be accretive to adjusted earnings per share in 2019.

Fiserv said the acquisition will further enhance its value proposition, deepen presence in debit card processing, and expand mobile and digital payments offerings for consumers and businesses.