Fiserv, Inc. (FISV - Free Report) announced on Wednesday that it has acquired independent software vendor (ISV) and enterprise point-of-sale (POS) systems expert Bypass Mobile.The financial terms of the deal were kept under wraps.
Bypass is a provider of back office management tools and insights engines for sports and entertainment venues, national restaurant chains and food service management providers.
We observe that shares of Fiserv have declined 1.9% over the past year, compared with 7.8% decline of the industry it belongs to and 15% decline of the Zacks S&P 500 composite.
How Will Fiserv Benefit?
Bypass will be integrated with the universal commerce platform from Fiserv to enhance purchase experience around connected devices.
The buyout builds on an ongoing strategic relationship as part of which a combination of the duo’s technologies is in use in more than 50 stadiums and arenas across the country.
Through this acquisition, Fiserv is eyeing to boost its omni-commerce capabilities thereby enabling its clients to deliver smooth and consistent customer experience across physical and digital channels. Businessesare expected to benefit from improved operational efficiency and security, and comprehensive picture of customer experience.
According to Devin McGranahan, senior group president, Global Business Solutions at Fiserv, "Adding Bypass to our portfolio will make it easier for our clients to realize their digital transformation strategy, delivering interactions their customers are demanding."
Zacks Rank & Stocks to Consider
Fiservcurrently carries a Zacks Rank #3 (Hold).
Few better-ranked stocks in the broader Zacks Business Services sector are Sykes Enterprises (SYKE - Free Report) , Omnicom (OMC - Free Report) and Genpact (G - Free Report) , each carrying a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term expected EPS (three to five years) growth rate for Sykes, Omnicom and Genpact is pegged at 10%, 5.6% and 14%, respectively.
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