Fiserv Inc. acquired Open Solutions Inc. for $55 million and the assumption of approximately $960 million of debt.

In conjunction with the acquisition, Fiserv will benefit from an acquired tax asset with a net present value at the time of purchase of approximately $165 million.

Open Solutions is a Glastonbury, Conn.-based technology provider to banks, thrifts, and credit unions. Through this acquisition, Fiserv will add several new technologies to its offerings, including DNA, the real-time, open technology account processing platform that Open Solutions developed. The platform enables collaboration and technology-sharing through DNAcreator and DNAappstore that allows banks to create their own applications and share them with other DNA users. Over time, Fiserv expects to add some of the features contained in its Acumen account processing platform to DNA.

Through this acquisition, Fiserv will also add several other key solutions, including the TotalPlus account processing platform, Weiland Account Analysis for commercial account analysis, tools that enable the creation and sharing of client-developed functionality, and Raddon Financial Group, which offers performance consulting services.

Open Solutions serves more than 3,300 clients worldwide, including more than 800 account processing clients. These clients can benefit from the broad array of add-on solutions offered by Fiserv, such as its CheckFree RXP electronic bill payment service, and Popmoney person-to-person payment solution.

"Open Solutions provides several growth opportunities, including a real-time account processing capability that serves multiple charter types, languages and currencies on a single platform," says Jeffery Yabuki, president and CEO, Fiserv. "Open Solutions' strong team of associates is intently focused on client success and committed to collaborative technology, which will enhance the value we provide to our clients."

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