MILWAUKEE Metavante Corp, announced Tuesday the signing of a definitive agreement to acquire CyberBills Inc., an electronic bill presentment and payment company.
Cyberbills, a privately held company in San Jose, Calif., provides front-end services for consumers to receive and pay bills online. The deal wold give payment processor Metavante a direct link with consumers and relationships with more than 21 financial service providers, such as J.P. Morgan Chase & Co. in New York.
Terms of the agreement were not disclosed. The transaction, which is subject to regulatory approval, is expected to close in June.
The agreement is Metavantes second in less than a month. Earlier this month, Metavante announced plans to acquire Derivion Corporation, a provider of electronic billing software to corporations.
