Fiserv, Inc. announced Thursday that it has acquired Alliance ADS, according to Leslie M. Muma, President and CEO of Fiserv. Based in California, ADS is a provider of imaging solutions to the financial services and staffing industries. Terms of the transaction were not disclosed.
“Alliance ADS complements the current suite of image-based solutions offered through our ImageSoft Technologies business, and provides an opportunity for us to expand into other markets including insurance, trust and staffing services,” said Thomas A. Neill, President of the Fiserv Industry Products & Services Group. “ADS has a solid reputation within the industry, and a strong base of technological expertise that will expand and enhance our imaging capabilities. With this latest acquisition, Fiserv will be even better positioned to serve the increasing demand for advanced image-based technology solutions.”
Based in Redwood Shores, California, ADS was formed in 1987. The company designs, develops and markets front-end image platform solutions to the financial services and staffing industries. These solutions include image-based forms processing and automated data entry products utilizing ICR/OCR technology to capture high-volume handwritten and machine written information from a variety of documents. The benefits of such applications are the reduction of manual entry of form information, allowing for fully automated, intelligent forms processing.
“We are excited by the opportunity to add our talents and resources to Fiserv,” said Ronald Jacobs, President of ADS. “In addition to our synergistic imaging solutions, the Fiserv economies of scale will accelerate our combined product development for the benefit of our growing client base.”
Fiserv, Inc. (NASDAQ:FISV) is an independent, full-service provider of integrated data processing and information management systems to the financial industry. As a leading technology resource, Fiserv serves more than 7,000 financial service providers worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies, mortgage banks and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv also can be found on the Internet at [www.fiserv.com.]