Fiserv, Inc. has entered into an agreement to acquire i_Tech Corp., a provider of outsourced account and payment processing services, from First Interstate BancSystem Inc., a multi-state, $6 billion banking organization headquartered in Billings, Montana. The purchase price is $40 million, with an expected closing date of December 31, 2008. i_Tech provides outsourced account processing services as a licensee and reseller of the Fiserv ITI Premier core banking system to financial institutions located primarily in the northern Midwest and West. In addition to account processing services, i_Tech provides its clients with a variety of complementary services including EFT processing and check processing.
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