BROOKFIELD, Wis. — Fiserv Inc. said Monday that it has bought Remarketing Services of America Inc., a former subsidiary of DaimlerChrysler Services AG that specializes in managing and marketing vehicle leases. Terms of the agreement were not disclosed.

The deal, Fiserv’s 100th, augments its capabilities in the automotive finance industry, which is served through the Fiserv LeMans Group, a provider of vehicle-leasing software and services.

Amherst, N.Y.-based Remarketing Services, which was founded in 1991 and employs 500, manages portfolios for more than 300,000 vehicles and $3.2 billion of transactions annually for major financial institutions, fleets, automakers, and captive finance companies.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.