https://investors.fiserv.com/news-releases/news-release-details/fiserv-and-bridgeport-partners-enter-agreement-form-joint
The most important line is after closing Bridgeport Partners is expected to assume operational control and day to day management of those businesses.
So how many are going to be rebadged/transfered into the joint venture?
@a5 Only thing I disagree with you is Fiserv losing revenue. Fiserv likely keeps some economic participation still in this venture. Clients are probably going to be eating higher prices for sure now.
@a5 the former FIS CEO heads Bridgeport. And last checked on Fiserv board
There are not many people who worked directly with these product/services. It’s mostly a reseller engagement piggybacking off of some existing service and implementation teams. The question now is why anyone at Fiserv would prioritize support or anything for those integrations anymore. Seems like we lose a lot of easy revenue, but get a huge payout from some PE bozos. The client gets sc--ws, but that’s the only thing Fiserv is executives know how to do.
Fiserv had to sell to someone before they run it into the ground