It’s glaringly obvious what is happening here! FB needs the cash to turn his payments and fintech biz back to profitable under the shiny Fiserv brand…..at the expense of anything bank related….people, clients and all! It really is the only thing that makes any sense.
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PE will be buying Fiserv's bank account processing business and combining it with recent purchase of CSI.
Who is PE? CSI being acquired by Centerbridge and Bridgeport
PE will be buying Fiserv's bank account processing business and combining it with recent purchase of CSI.
Didn't you hear? They made a deal with Merrill Ly--h and are moving all of our 401Ks into the new company. We will be employee owned and it will stay that way because no one will want to buy shares of a failing company.
Spin off cores and saddle it with the oFD debt...sit to the side inert and not be a drag on the wonders of Clover Innovation and the inspired leadership who made it a rocket!
My guess is if Fiserv gets acquired it will not be by a similar company, i.e Jack Henry. Fiserv has 40% of the core business. I don't think the Feds would approve an acquisition by a similar core vendor. Maybe someone else in fintech but few if any have enough muscle to pull it off. Possibly NCR, doubt if Q2 could. But as we know any company can find funding with VCs. Ugh.
What is the approximate employee count in the Banking org before this months cuts?
With the slashing and damage being done, who'd want it in a broken state? Sell at a loss for tax purposes? (That prob almost makes sense to FBs twisted financial mind, always has to be an angle...like the NJ tax credit).
Nymbus had massive layoffs this summer as well.
How about Nymbus? Or at least they may buy the DNA product - so many have gone there that it's called "Open Solutions 2.0". (For those of you old school people around prior to the Fiserv purchase.
Jack Henry - see my previous post.
Les Muma ( Fiserv founder, COO , CEO #2) Tampa, Fl based and FIS board will not want his baby back - too much damage done and will not advice FIS for acquisition. Further, FIS just surpassed Fiserv. They don’t need this headache. If you know what I mean. Review the Bank of America , country wide saga!!! It was a mess. FIS will not want daily law suits!
SVP
Hurry up please!
Jack Henry?
At this point .. I’m hoping for this exact news.