Fiserv Completes CheckFree Takeover

Published December 04, 2007, 9:38 p.m. EST

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Updated August 27, 2020, 1:31 a.m. EDT

1 Min Read

BROOKFIELD, Wis. – Fiserv yesterday said it has completed its $4.4 billion acquisition of electronic payments giant CheckFree Corp.

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Fiserv paid $48 a share for the Atlanta-based provider of electronic bill payment and presentment services.

Jeffery Yabuki will continue to serve as president and CEO of Fiserv and Pete Kight, former CheckFree chairman and CEO, will serve as vice chairman of Fiserv and will lead new product development and strategic integration. Steve Olsen, former chief operating officer of CheckFree, will become Fiserv's group president of Internet banking and electronic payments. In addition, Norm Balthasar, senior executive vice president and chief operating officer, will retire from his position on Dec. 31.

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