Fiserv board authorizes repurchase of up to 6 percent of stock

Milwaukee, Wis. — Fiserv, Inc., a large information technology service provider to financial and insurance firms, said today that its board has authorized a repurchase of up to 10 million shares of common stock, or about 6 percent of outstanding shares.

The firm, based in Brookfield, has previously repurchased stock in 2006 and 2007 and noted that it has completed its previous repurchase orders. The announcement was linked with that of the sale of a majority stake in Fiserv's insurance business to Stone Point Capital for approximately $510 million in after-tax proceeds. FISV opened at $47.09 on Wednesday.