03 Nov Fiserv acquires data center from Compass Bank
Brookfield, Wis. – Fiserv, a leading provider of information technology services to the financial industry, today announced it has acquired The Data Center (TDC) based in Grapevine, Texas, from Compass Bank. Terms of the sale were not disclosed.
TDC was a licensee and reseller of the Fiserv ITI Premier(R) core banking system, which is available for either outsourced or in-house account processing, and offers products and associated consulting services for virtually every banking function. Fiserv is acquiring all of The Data Center’s assets and contracts, and the center’s 30 employees will become employees of Fiserv.
“This acquisition allows Fiserv to extend our core footprint and increase our ITI Outsourcing presence in the Texas marketplace through new expansion in the Dallas and Rio Grande Valley areas. We can offer these clients an experienced staff of professionals who are recognized as leaders in providing quality service,” said Mike Young, president of Fiserv Bank and Thrift Division.
“We began this relationship with The Data Center more than 20 years ago, and now Fiserv is pleased to have them join our team and begin directly serving these clients and other banks in the region. This direct partnership approach allows Fiserv to offer a personal relationship, along with the combined strength of the Fiserv product lines, that can help our clients achieve best-in-class results.”
About Compass Bank
Compass Bank is a Sunbelt-based bank that operates 579 branches in Alabama, Arizona, Colorado, Florida, New Mexico and Texas. Compass is among the top 25 largest banks in the U.S. based on deposit market share and ranks among the largest banks in Texas (4th) and Alabama (3rd).
Fiserv, a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries.