BankLink, Inc., a subsidiary of Chemical Banking Corporation, has been acquired by FIserv, Inc. of Milwaukee.
Bicknell Advisory Services, Inc. of Scarsdale, New York initiated the transaction and assisted in negotiations of behalf of the buyer.
Based in New York City, BankLink develops and markets cash management software and provides related services to major domestic and international banks for resale to their corporate customers.
The business was founded in 1977 and now counts 120 financial institutions worldwide among its customers including five of the top 25 banks in the world.
BankLink will continue under the leadership of existing management.
During the summer of 1994, Bicknell Advisory learned of FIserv's interest in expanding its services to larger financial institutions and enhancing its cash management product offerings.
Bicknell Advisory's familiarity with the wholesale electronic banking market enabled it to respond to these objectives, proposing BankLink as an acquisition target.
Bicknell Advisory was engaged to initiate discussions and, following several months of exclusive negotiations, a transaction was concluded.