Once the jewel of Fiserv is now reduced to a wasteland.....just a small group of guys who cover the mid market are left. Fiserv has officially ceded the core space to FIS and JHA......how do you like them apples.
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Which core sales team?
There's already a book about KKR tactics. Barbarians at the Gate: The Fall of RJR Nabisco is a 1989 book about the leveraged buyout of RJR Nabisco by KKR.
I suspect KKR's plan was to sell off either the issuing or acquiring side to finance the debt, but it was like trying to take one noodle from a plate of spaghetti--a tangled mess,
This story will be told in text books years from now. How KKR mistimed their purchase of First Data and was left holding billions of dollars of debt for years until someone had the bright idea to merge with Fiserv, a solvent company. Everybody got paid. The combined business was gutted at the expense of clients and future growth. Then, as we suspect, the company will be sold off, piece by piece. And no one goes to jail.
Payments revenues are tanking. Better keep the cores.
@ak+1jt6c45tr No incentive for the most competent to stay past a minimum.
Some temporary setbacks from Elmo Musk but the market will recover.
This company is like 30% sales folks, I think we have enough people who can still lie to clients and collect commission checks.
That is good news. We no longer have the development staff required to support new sales. This will leave us with more time to fail to deliver to our existing clients.
If they are being sold can they hurry up
no longer needed, all cores will be sold off