Fiserv Inc. has announced an agreement to acquire Chicago-based Envision Financial Technologies Inc., a family of companies that offers software and services to credit unions.
The companies will become part of the Fiserv bank and credit union group. Envision's president and chief executive officer, Greg Derkacht, will be president of Fiserv's credit union systems division. Terms of the agreement were not disclosed.
Envision's family of companies comprises Paradigms Software, a Dallas-based provider of campaign marketing software; Precision Direct, a Kent, Wash., provider of direct marketing and fulfillment services; Users Inc., of Valley Forge, Pa., which offers a client/server data base; and XP Systems of Moorpark, Calif., a client/server-based core systems provider.
Frank R. Martire, president of Fiserv Bank and Credit Union Group, said Envision shares Fiserv's industry views, corporate philosophy and goals, and that the deal would enhance Fiserv's information technology resources for credit unions.