Fiserv Inc., Brookfield, Wis., has reported record net income of $80.4 million ($0.41 per share) for the third quarter, compared with $66.2 million ($0.34 per share) a year earlier.The company said it completed five acquisitions in the third quarter, including Insurance Management Solutions Group, St. Petersburg, Fla., which services the flood insurance market; and General American Corp., Pittsburgh, a provider of technology and settlement services to the real estate and mortgage banking industries. Fiserv provides integrated data processing and information management systems to banks, mortgage lenders, and others in the financial services industry. The company can be found online at http://www.fiserv.com.
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The partnership was designed to support the growth of Redwood's Sequoia platform and give Castlelake purchasing power for fully documented loans.
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The technology firm posted annual gains in servicing, origination and closing solutions, although the segment at large posted an operating loss.
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