Fiserv Inc. has purchased Mobile Commerce Ltd., a provider of mobile banking and payments technology, the Brookfield, Wis.-based banking-technology company announced March 1.
Fiserv and Atlanta-based M-Com 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, Fiserv group president of digital payments, said in a press release.
Fiserv says 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 March 1 two additional purchases.
The company says it has acquired Credit Union On-Line Inc., a credit union service organization that runs a hosted version of Fiserv's account processing system. And it purchased Maverick Network Solutions, a provider of prepaid and reward services
The company has integrated Maverick into its card services group. It did not disclose the financial terms of either deal.
