Brookfield, Wis.-based Fiserv Inc. has acquired Results International Systems Inc., a provider of outsourced solutions for the property/casualty insurance industry.
The acquisition will contribute about $7 million in annualized revenues. The purchase price was not disclosed.
Leslie M. Muma, Fiserv CEO, said the acquisition of Results International will expand Fiserv’s strength in the insurance market by adding a broad P/C outsourcing capability to the company’s existing portfolio of insurance systems and services.
Terry Wade, president of the Fiserv Insurance Group, said Results International will be a natural fit with Fiserv since the company offers its outsourced services by using the Fiserv Specialty insurance administration system.
In addition to its headquarters in Worthington, Ohio, Results International also operates offices in Sheboygan, Wis., and New Delhi, India. The New Delhi facility provides software development and client service support. All of the company’s more than 80 employees are expected to join Fiserv.