Fiserv, Inc. completed the acquisition of Ondot Systems, Inc. from Citi Ventures, Inc. and others.
January 21, 2021
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Fiserv, Inc. (NasdaqGS:FISV) signed a definitive agreement to acquire Ondot Systems, Inc. from Citi Ventures, Inc. and others on December 16, 2020. Ondot team will join the Fiserv family. The transaction is subject to customary approvals and closing conditions. As of January 11, 2021, Federal Trade Commission granted the early termination notice. The transaction is expected to close in the first quarter of 2021. Larry Sonsini, Tony Jeffries, Doug Schnell, Raymond Singson, Christopher Paniewski, Scott McCall, Myra Sutanto Shen, Rebecca Stuart, Ryan Smith, Jamillia Ferris and Christopher Williams of Wilson Sonsini Goodrich & Rosati acted as legal advisors and Piper Sandler Companies acted as financial advisor to Ondot Systems in the transaction.
Fiserv, Inc. (NasdaqGS:FISV) completed the acquisition of Ondot Systems, Inc. from Citi Ventures, Inc. and others for approximately 280 million on January 22, 2021. The purchase price is approximately $270 million, net of $13 million of acquired cash.
Fiserv, Inc. specializes in the development and integration of IT solutions for the financial and insurance sectors. Net sales break down by activity as follows:
- on-line banking and investment support (77.7%): solutions for on-line payment, solutions for placing share orders, paying for securities, managing retirement savings plans, etc.;
- financial management (16.6%): transaction and loan management solutions, data treatment, CRM, hosting solutions of online activities and outsourcing services for financial institutions (banks, leasing companies, real estate lending companies, etc.) and insurance companies;
- other (5.7%).
The United States account for 85% of net sales.
FISERV, INC. 
