Brookfield, Wisconsin-based financial data processing company Fiserv Inc is continuing its relentless acquisition of small financial services firms, and has agreed to acquire Envision Financial Technologies Inc of Chicago, on undisclosed terms.
Envision is actually a family of independent service companies providing technology to US credit unions. The family consists of Paradigms Software, Precision Direct, USERS Inc and XP Systems. Envision was formed two years ago from the merger of USERS Inc and XP. Precision Direct and Paradigms Software were acquired in 1998. There are over 550 staff based in California, Hawaii, Pennsylvania, Texas and Washington.
Not counting Envision, Fiserv has made seven acquisition so far this year, including Alliance ADS of Redwood Shores, California, Fipsco Inc of Des Plaines, Illinois, JW Genesis Clearing Corp of Boca Raton, Florida, and Progressive Data Solutions Inc of Orlando, Florida. It has acquired around 90 companies since it was formed back in 1984.
