Fiserv to Buy Settlement Services Firm

Fiserv Inc., Brookfield, Wis., has agreed to acquire General American Corp., a Pittsburgh-based provider of real estate settlement services to the lending industry, for an undisclosed amount.GAC is majority-owned by Mason Wells, a private equity investment firm based in Milwaukee. Fiserv said GAC operates in two divisions: GAC Direct, which offers online settlement services nationwide, and GATORSystems, which licenses technology and software to settlement service providers. Leslie M. Muma, Fiserv's president and chief executive officer, said GAC has achieved success by "making lives easier for lenders in every part of the country with its highly automated real estate settlement services." Fiserv said GAC services more than 4,000 customers and manages a network of more than 10,000 independent vendors. Fiserv can be found online at http://www.fiserv.com.