FISV Fiserv Inc

By Colin Kellaher

Fiserv Inc. (FISV) Thursday said it agreed to sell up to 60% of its investment-services business to a group led by private-equity firm Motive Partners.

The Brookfield, Wis., provider of financial-services technology said it receive about $510 million in after-tax proceeds and retain a 40% stake in the business, which serves key segments of the wealth- and asset-management industry.

Fiserv said the transaction, which it expects to complete in the first quarter of 2020, will be slightly dilutive to adjusted per-share earnings next year.

Motive Partners, which focuses on technology companies that serve the financial-services industry, said its investment group includes investment company Cannae Holdings Inc. (CNNE).

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

December 05, 2019 09:11 ET (14:11 GMT)

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