Fiserv crosses Fortune 500 threshold
Laptop Battery By WTN News • 04/05/06
Milwaukee, Wis. Fiserv, Inc., the Brookfield-based provider
of financial and
health benefits technology, is
one of 10 Wisconsin companies to make the annual Fortune
500 list of the largest revenue-producing companies in the
United States.
Intel ( INTC , Fortune 500 ) and AMD, the world's largest semiconductor manufacturers and the parts makers at the heart of the personal computer and network server industries, will offer a key reading on the health of the technology sector in the face of a withering economy. Worries have been mounting in recent week as other tech bellwethers like Cisco ( CSCO , Fortune 500 ) tightening and Internet giant Google ( GOOG , Fortune 500 ) show signs of a slowdown . laden Nasdaq is down 14% this year, more than erasing its 2007 gains.
Thinkpad Fiserv, which reported $4.1 billion in annual revenue and earned
$516 million in 2005, cracked the list at 488 after ranking 510th
last year. The annual ranking will appear in the April 17 issue of
Fortune magazine.
According to the indictment, Jones would steal various IBM and Penguin computer servers from Verisign's warehouse in Virginia and sell them to Johnson. Johnson would then sell the servers to several individuals, who would sometimes place them for sale on eBay. As a result of this scheme, the indictment alleges that Jones and Johnson caused Verisign to lose more than $120, 000 worth of computer equipment. In the indictment, Jones and Johnson are charged in three counts with causing the interstate transportation of stolen property, namely IBM 330 and 335 servers, in violation of 18 U.S.C.
Microsoft Jeff Yabuki, president and CEO of Fiserv,
credited the firm's nearly
22,000 employees, but an aggressive merger and acquisition
strategy also has played a role in its explosive growth. Since
its inception in 1984, Fiserv has acquired 139 companies,
expanding its network to more than 17,000 clients in more than
60 countries.
Chevron's revenue increased 28 percent while Conoco's rose 37 percent. General Electric Co. ( GE) fell to the No. 7 Fortune 500 rank after reporting revenues of $157 billion while Citigroup ( C) and insurer, American International Group ( AIC), followed at Nos. 8 and 9, the same Fortune 500places they held last year. International Business Machines Corp. ( IBM) held onto its No. 10 ranking in the magazine's list of the top 500 companies.
Laptop Computers Perhaps more important than the number of acquisitions is the
type of acquisition target. Fiserv has implemented an M&A
strategy that emphasizes the purchase of entrepreneurial companies
in an attempt to help it stay on the cutting edge of product and
service solutions. The company provides information management
systems and services, including transactions processing,
business process outsourcing,
and software and systems solutions.
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Laptop Computer Fiserv is best known for its financial data services, but has
also operated in the health benefits market since its 2001
acquisition of Texas-based Benefit Planners. It now serves
self-funded medical, dental, vision, and disability plans.
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Desktop Computer The Fortune 500 is not the first prominent list that
Fiserv has appeared on. In 2004 and 2005, the FinTech 100
survey ranked Fiserv as the largest provider of information
technology services to the U.S. financial services industry. The
firm also ranked 84th on the 2005 Business Week Info Tech
100.
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