Fiserv has acquired Results International Systems, an Ohio-based provider of outsourced services for the property and casualty (P&C) insurance industry, for an undisclosed price.
Results International Systems operates offices in Wisconsin and New Delhi, India. The company's 80+ employees are expected to transfer to Fiserv.
The company currently offers outsourced services using Fiserv's Specialty insurance administration system. Its Artius subsidiary supplies Web-based products that support the policy underwriting process.
Fiserv says the acquisition will contribute approximately $7 million in annualised revenues.
Leslie Muma, president and CEO, Fiserv, says the acquisition will add broad P&C outsourcing capabilities to Fiserv's existing portfolio of insurance systems and services.
"Insurance companies are growing more comfortable with the idea of outsourcing, so Results International will add a vital component as we expand our capabilities in this very significant market," says Muma.