Bank Tech M&A: Slowing Growth at Fiserv and FIS Leads to Value-Destructive Acquisitions
After a comprehensive review of the Fiserv-First Data and Fidelity National Information Services-Worldpay mergers, we believe these deals are value-destructive. We have downgraded Fiserv’s moat rating to narrow from wide and assigned it a negative moat trend rating. Though we view First Data’s competitive positioning favorably and believe it has a moat, we believe the economics of merchant acquiring are dilutive to Fiserv’s wide moat in core processing. Had Fiserv not acquired First Data, we wou...Fiserv is a provider of financial services technology. The company provides account processing systems, electronic payments processing products and services, internet and mobile banking systems, and related services. The company's segments are: First Data, which provides merchant acquiring, e-commerce, mobile commerce, and other business solutions; Payments and Industry Products, which provides electronic bill payment and presentment services, internet and mobile banking software; and Financial Institution Services, which provides financial institutions with account processing services, item processing and source capture services, loan origination and servicing products, and cash management, among others.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.