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Fiserv to sell 60% of its investment services business

New York-based Motive Partners has entered into a joint venture with Fiserv whereby the company will acquire the majority of Fiserv’s investment services business. Under the definitive agreement, Motive Partners-led investors will acquire up to 60% of Fiserv’s investment services business while Fiserv will retain 40% equity interest in the business, receiving approximately $510 million in net after tax proceeds, according to a press release.

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