Open Solutions Completes Deal For BISYSUnit
GLASTONBURY, Ct. - (03/06/06) -- Open Solutions Inc. announced Fridayit completed the acquisition of BISYS Group's Information Servicesgroup, a provider of outsourced solutions to credit unions, banks,investment companies and insurers. Total consideration for theBISYS assets as $470 million in cash. The Information Servicesgroup provides information processing, imaging and back-officeservices, including a document solutions unit that is one of theindustry's largest providers of check imaging and Check 21technologies, serving 400 financial institutions. BISYS has been apartner with Open Solutions since 1997, when the InformationServices unit offered Open Solutions' core data processingtechnology as an outsourced processing alternative.