Metavante Continues To Binge

Register now

MILWAUKEE - (10/18/04) -- Metavante Corp. continued on itsacquisition spree Friday, announcing a deal to acquire VECTORsgiInc., an Addison, Texas-based provider of check-imaging andexchange technology, for up to $135 million. VECTORsgi developedthe Distributed Traffic Agent for SVPCO, a clearinghouse owned by19 of the nation's largest banks, and will be pared with anotherrecent Metavante acquisition, Advanced Financial Solutions (AFS),owner of the CheckClear LLC national check exchange. Metavante, awholly owned unit of bank holding company Marshall & Ilsley,has spent more than $1 billion on six acquisitions this year,including the NYCE electronic funds network, the Kirchman Corp.,Response Data, a provider of bill pay and check processingservices, and NuEdge Systems, a provider of CRMsoftware.

For reprint and licensing requests for this article, click here.