Fiserv, Bridgeport Partners enter agreement to form joint venture

Fiserv (FISV) announced it has entered into a definitive agreement with Bridgeport Partners to form a joint venture encompassing Fiserv’s ATM Managed Services, Cash & Logistics, and MoneyPass businesses. Upon closing, Bridgeport Partners is expected to assume operational control of the businesses and oversee day-to-day management. Fiserv stated the agreement aligns each business with the operating model and investment best suited to drive growth. Fiserv has built strong, durable businesses serving financial institutions, merchants, and consumers across the ATM and cash ecosystem,” said Mike Lyons, CEO, 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 brings the experience and focus we believe are essential to this next phase.” The transaction remains subject to required regulatory approvals and customary closing conditions.