Fiserv, Inc. Announces 100th Acquisition with Purchase of Remarketing Services of America, Inc.
BROOKFIELD, Wis.--March 12, 2001--Fiserv, Inc. announced today that it has acquired Remarketing Services of America, Inc. (RSA), a specialized provider of portfolio services for the automotive finance industry, according to Leslie M. Muma, President and CEO of Fiserv, Inc. Prior to the acquisition, Amherst, New York-based RSA was a subsidiary of DaimlerChrysler Services AG. Terms of the agreement were not disclosed.
"With the acquisition of RSA, which also marks our 100th acquisition, Fiserv is furthering our service capabilities for the automotive finance industry," said Muma. "We currently serve this market through the Fiserv LeMans Group, which is a leading provider of vehicle leasing software and services. This latest acquisition is another example of our ongoing strategy to expand and enhance our ability to meet the total automation needs of the financial services industry."
"By adding RSA to our portfolio of services, Fiserv can offer clients a full-featured solution for their automotive financing needs," said Norman J. Balthasar, President and Chief Operating Officer of the Fiserv Financial Institution Group. "RSA has a proven reputation for technological capability, reliability and product quality that complements our current solutions within the automotive finance industry. Clients of RSA will continue to receive the highest levels of service and support, just as they have in the past. In addition, they will benefit from the added resources and solutions available through Fiserv. We look forward to welcoming the talented professionals at RSA to the Fiserv team."
Founded in 1991, RSA employs nearly 500 associates and is the leading provider of strategic vehicle remarketing, proactive lease maturity management, liability management and customer retention programs. RSA utilizes award-winning technologies to manage portfolios for more than 300,000 vehicles and $3.2 billion in transactions annually for major banks, financial institutions, fleets, automotive manufacturers and captive finance companies.
"We are very excited to join the Fiserv family of companies," said Andrew J. Shaevel, Co-CEO of RSA. "The cultures of both our companies are aligned--both companies believe in delivering exceptional value and service to clients by creating an atmosphere that attracts and retains the best and the brightest associates."
Stuart H. Angert, RSA Co-CEO, said, "We believe that our acquisition by Fiserv will allow RSA to operate within an environment that nurtures entrepreneurial ventures, including acquisitions and the development of new products and services for our clients."
RSA was named the "Premier Remarketing Company" by Art Spinella of CNW Marketing/Research, and its proprietary technology earned a Microsoft Excellence Award in 1999. The company also is recognized in Western New York as a "Great Place to Work" due to its motivational culture of empowerment and teamwork, as validated in an associate survey conducted by the Great Place to Work(R) Institute of San Francisco. Additional information can be found on the Internet at www.rsa-net.com.
Fiserv, Inc. is an independent, full-service provider of integrated data processing and information management systems to the financial industry. As a leading technology resource, Fiserv serves more than 10,000 financial service providers worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies, mortgage banks and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv also can be found on the Internet at www.fiserv.com.