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Fiserv Will Acquire i_Tech Corporation from First Interstate BancSystem

Fiserv, Inc. (Brookfield, Wisc.), provider of information technology services to the financial industry, has agreed to acquire i_Tech Corporation (Billings, Mt.), a provider of outsourced account and payment processing services, from First Interstate BancSystem Inc. (Billings, Mt.). The purchase price is $40 million, and the deal is expected to close on 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.

Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio

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