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February 10, 1999

FISERVE EXPANDS ITS FINANCIAL SERVICES EMPIRE

By CBR Staff Writer

Fiserv Inc, the Brookfield, Wisconsin-based financial data processing company, has acquired Lafayette, California-based Eldridge & Associates Inc, a provider of specialized financial reporting software to credit unions. Terms of the agreement were not disclosed. The company has been selling its Cuplan and Cusaplan asset liability management and financial reporting system to software to small and medium-sized credit unions. Fiserv says the software will complement its own credit union systems – around 750 credit unions use the Eldridge & Associates software, and 600 of those are also customers of Fiserv’s service bureau or in-house data processing systems. Fiserve already has a suite of client/server and PC-based financial decision-support and planning products, sold by itsáIPS-Sendero division, which was formed from the 1997 acquisition of Interactive Planning Systems Inc and the 1998 Sendero Corp buy. Yesterday, Fiserv also acquired Oakland, California-based RF/Spectrum Decision Science Corp, also on undisclosed terms. RF/Spectrum develops analysis and risk management software for the mortgage industry. That makes three acquisitions so far this year for Fiserv, including QuestPoint, a subsidiary of First Union Corp, which was acquired on January 18th. QuestPoint is a third party transaction processing company based in Philadelphia, providing remittance, check and document services. Fiserv has now acquired 84 small financial services companies since it was formed in 1984. For the year ended December 31, 1998, revenues were $1,233.7m, a 27% increase over the $974.4m reported in 1997. Net income rose to $114.3m, a 26% increase over the $90.8m reported in 1997.

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