Fiserv completes acquisition of AIB Merchant Services

Fiserv Inc. (NYSE: FI) completed its acquisition of the remaining 49.9% stake in AIB Merchant Services, finalizing full ownership of its joint venture with AIB Group, according to a company statement.

The Milwaukee-based payments and financial services technology provider previously held a 50.1% stake in the Irish payment solutions company through the joint venture arrangement.

AIB Merchant Services operates as one of Ireland's largest payment solution providers and ranks among Europe's largest e-commerce acquirers. The acquisition supports Fiserv's expansion in the European market, including growth opportunities for its Clover point-of-sale system across the region.

As part of the transaction agreement, AIB Group will continue referring businesses requiring card acquiring services to Fiserv on an exclusive basis.

The financial terms of the acquisition were not disclosed in the announcement.

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