Open Solutions To Acquire BisysUnit
GLASTONBURY, Ct. - (09/16/05) -- Open Solutions Inc. said Thursday ithas agreed to acquire Bisys Group Inc.'s Information ServicesGroup, which provides information processing, imaging andback-office services to credit unions, banks, insurance companiesand corporations. The price of the deal is $470 million in cash.The transactions is expected to close in the fourth quarter. Bisyshas been a reseller and alliance partner of Open Solutions since1997 when Bisys Information Services offered Open Solutions' coredata processing on an outsourcing basis. About 60 of Bisys' 220core data processing clients are using the Open SolutionsSystem.