Mergers and Acquisitions

Tushaus acquires Chicago firm
Tushaus Computer Services, a Milwaukee-based provider of information technology solutions and services, has acquired the customers and services provided in Milwaukee by FastRoot, formally known as Capital Internet.

The acquisition combines the strength of Tushaus’ data center hosting, application and web development and technical solutions with Chicago-based FastRoot’s expertise in Unix and data center hosting.

The primary services acquired with this acquisition are email and Unix hosting. 

"Tushaus Computer Services acquired data center service customers from FastRoot in a deal that sharpens FastRoot’s focus on their core business and transfers customers that fit with Tushaus’ core competencies in data center services. These customers include shared, dedicated and co-location hosting," said Gregg Tushaus, founder and chief executive officer of Tushaus.

Fiserv to acquire Montana company

Brookfield-based Fiserv Inc. announced it has agreed to acquire i_Tech Corp., a provider of outsourced account and payment processing services, from First Interstate BancSystem Inc. of Billings, Mont.

The purchase price is $40 million, with an expected closing date of Dec. 31.

i_Tech provides outsourced account processing services as a licensee and reseller of the Fiserv ITI Premier core banking system to financial institutions located primarily in the northern Midwest and West.

In addition to account processing services, i_Tech provides its clients with a variety of complementary services, including EFT processing and check processing.

"Our relationship with First Interstate and i_Tech dates back to the very early days of Fiserv and the ITI Premier core banking system. We are excited about the opportunities that we will have together as we enter into the next phase of our more than 30-year relationship," said Jeffery Yabuki, president and chief executive officer of Fiserv. "Fiserv’s suite of exceptional, innovative technology solutions will complement the great service that i_Tech has provided to its clients for more than three decades."

First Interstate BancSystem president and CEO Lyle Knight said the decision to sell i_Tech was a strategic one based on long-term trends for bank data processing.

"This was a difficult decision for us as i_Tech has been a member of the First Interstate family for many years. But the industry has changed. Many banks are divesting themselves of their data processing operations. While we were successful in the past, we felt that, going forward, global provider Fiserv was in the best position to take our clients to the next level," Knight said.

Sign up for BizTimes Daily Alerts

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

No posts to display