First Bank System Inc. has agreed to sell Dakota Data Processing Inc., a bank data processing service bureau, to Fiserv Inc.
Dakota Data, based in Fargo, N.D., was a subsidiary of the former Siouxland Bank, which was acquired by First Bank System this year.
The sale of the processing unit to Milwaukee-based Fiserv is expected to close in December. The agreement was reached last week; terms were not disclosed.
Dakota Data provides data processing and microfiche services to about 40 financial institutions and related businesses in the Fargo area. The company had revenues of $1.3 million last year and employs 13 people.
