Fiserv Inc., a Milwaukee-based data processing company, has agreed to buy two outsourcing units from Mellon Bank Corp. for $70 million in cash.

The transaction, announced Monday, stems from Mellon's decision earlier this year to exit the bank outsourcing business, under which it provides data processing services to other banks. The Pittsburgh-based company concluded that the outsourcing business was peripheral to its strategy and had limited future growth.

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