Fiserv Inc. (NASDAQ: FISV) announced it entered into a definitive agreement with Bridgeport Partners to form a joint venture covering Fiserv's ATM Managed Services, Cash & Logistics, and MoneyPass businesses. The transaction requires regulatory approvals and customary closing conditions.

Under the agreement, Bridgeport Partners will assume operational control of the businesses and oversee daily management upon closing. The companies plan to establish a formal governance structure focused on long-term value creation and sustainable growth.

"Fiserv has built strong, durable businesses serving financial institutions, merchants, and consumers across the ATM and cash ecosystem," said Mike Lyons, CEO of Fiserv. "This agreement reflects our One Fiserv approach, delivering positive client experiences, aligning each business with the operating model and investment best suited to drive growth and client outcomes."

Bridgeport Partners specializes in financial technology investments and has over four decades of experience in banking and payments technology. The private equity firm focuses on operational excellence, product innovation, and growth within financial infrastructure markets.

"These businesses play a critical role in the financial services ecosystem, and with the joint venture, we see a significant opportunity to accelerate growth meaningfully," said Frank Martire Jr., Executive Chairman of Bridgeport Partners.

The affected businesses will continue operating as part of Fiserv until the transaction closes. The companies stated they will share additional transaction details as appropriate.