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Article: TD AMERITRADE Closes Fiserv ISS Deal.(Company overview)
- Article from:
- Business Wire
- Article date:
- February 4, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Institutional Client Assets Now Exceed $100 Billion
OMAHA, Neb. & BROOKFIELD, Wis. -- TD AMERITRADE Holding Corporation (Nasdaq: AMTD) and Fiserv, Inc. (Nasdaq: FISV) announced today that TD AMERITRADE has completed its purchase of Fiserv's Investment Support Services (ISS) business for approximately $225 million in cash plus the amount of acquired regulatory capital. Additionally, based upon achievement of certain revenue targets over the next 12 months, there is an earn-out of up to $100 million payable to Fiserv.
The acquisition adds approximately $25 billion in client assets to TD AMERITRADE, including $15 billion held in more than 75,000 accounts ...