Fiserv Announces Acquisition of Ondot Systems

Fiserv, Inc. (NASDAQ: FISV) ("Fiserv"), a global provider of financial services technology, announced that it has signed a definitive agreement to acquire Ondot Systems, Inc. ("Ondot"), a financial technology company headquartered in Silicon Valley. The transaction will further expand Fiserv's digital capabilities, enhancing its suite of integrated solutions to enable clients of all sizes to deliver frictionless, digital-first and personalized experiences to their consumers.

Founded in 2011, Ondot processes more than 1 billion transactions per month and provides digital capabilities for over 30 million cards. Fiserv plans to further develop the Ondot platform's unique interplay between real-time authorization, user context, and artificial intelligence ("AI") to engage users in-the-moment – before, during and after transactions.

​Frank Bisignano, President and Chief Executive Officer of Fiserv, said: "By combining Ondot and Fiserv capabilities at scale, we plan to provide our clients with a unified digital experience, spanning card-based payments, digital banking platforms, core banking, and merchant solutions, enabling them to deliver best-in-class solutions that continue to reduce friction for their customers. We look forward to welcoming the talented Ondot team to the Fiserv family as we continue to help our clients deliver innovative ways for their customers to actively manage their financial lives."

"The Fiserv aspiration to move money and information in a way that moves the world fully resonates with Ondot's mission," said Vaduvur Bharghavan, President and Chief Executive Officer of Ondot Systems. "Joining with Fiserv will provide Ondot the opportunity to innovate and impact the industry on a global scale. We look forward to expanding the scope of our offerings as we integrate with Fiserv's vast array of capabilities to continue providing high-quality digital solutions to consumers, merchants, acquirers, networks and card issuers."

The transaction is subject to customary approvals and closing conditions and is expected to close in the first quarter of 2021.