Fiserv Buys Rival In Management Software Business

Fiserv Inc. has bought Interactive Planning Systems Inc., a maker of profitability management software for banks.

Interactive Planning, which has more than 5,000 customers, will be merged with another Fiserv unit, Sendero Corp. Financial terms of the deal were not disclosed.

"I do not have to compete with (Sendero) anymore," said Jerry Weiner, chairman of Interactive Planning, who founded the company in 1982 with its president, Larry Urbach.

The two men will head the merged company, which will be based in Sendero's hometown of Scottsdale, Ariz. Interactive Planning currently is headquartered in Atlanta.

The combined company should have about 6,200 customers and 210 employees. It will contribute about $30 million of Fiserv's estimated $900 million of revenues this year.

Mr. Weiner considered the deal sensible since Fiserv already remarkets Interactive Planning software to banks. He also said the acquisition gives Interactive Planning better access to research and development funding.

Leslie M. Muma, president and chief operating officer at Fiserv, said the marriage was long overdue.

"We picked up some excellent people and some excellent products." Mr. Muma said. "We think those two companies will work well together."

The combined company, whose name has yet to be chosen, will continue to develop software for profitability management, interest rate risk management, and performance measurement. u

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