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Trident IV to acquire 51 percent in Fiserv Insurance Solutions |
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Fiserv, provider of information technology services to the financial and insurance industries, has signed a definitive agreement with Trident IV, a private equity fund managed by Stone Point Capital, in which Trident is to invest approximately USD 205 million in equity and USD 335 million in debt to acquire a 51 percent majority interest in Fiserv’s insurance business Fiserv Insurance Solutions.
Fiserv expects to receive approximately USD 510 million in net after-tax proceeds and to retain a 49 percent interest in Fiserv Insurance Solutions. The transaction is to include nearly all aspects of Fiserv’s insurance segment. The company keeps its current management team and employee base and it will operate under the same name, Fiserv Insurance Solutions. Upon closing the transaction, Fiserv will no longer consolidate revenue and expenses from Fiserv Insurance Solutions. |
