Fiserv Inc. said Monday that it has purchased Mobile Commerce Ltd., a provider of mobile banking and payments technology.
Fiserv, of Brookfield, Wis., and M-Com, of Atlanta, jointly developed Fiserv's Mobile Money product in 2008. M-Com was founded in 2000.
"The acquisition of M-Com will enhance our ability to provide anywhere, anytime access to consumers who want their finances at their fingertips," Steve Olsen, group president of digital payments for Fiserv, said in a press release.
Fiserv said it is taking on all M-Com employees, including Adam Clark, its chief executive. The two companies, which have hundreds of mutual customers, did not disclose the financial terms of the deal.
Fiserv separately announced Tuesday that it has also purchased Credit Union On-Line Inc., a credit union service organization that runs a hosted version of Fiserv's account processing system.
Fiserv also purchased Maverick Network Solutions, a provider of prepaid and reward services, and integrated it into its card services group Tuesday. It did not disclose the financial terms of either deal.
