Investments

Fiserv acquires fee and billing software developer Interactive Technologies Inc.

Bank Of America Investment By WTN News • 06/14/05 Milwaukee Brookfield-based Fiserv, Inc., has acquired Interactive Technologies, Inc., a developer of fee management and billing software for large and mid-sized financial services organizations, for an undisclosed sum.

William has extensive experience in finance and investments in both public and private companies. He is the Managing Partner of Cansbridge Capital Corp., a boutique venture investment firm based in Vancouver and Palo Alto, specializing in technology. Cansbridge was an early investor in nCompass Labs (acquired by Microsoft in 2000), Intrinsyc Software ( ICS), Telos Technology (acquired by UTStarcom, UTSI in 2004). William has a MBA and Bachelor of Science in Mechanical Engineering from Queen's University in Kingston, Ontario.

Investment Opportunity Interactive Technologies, headquartered in Summit, New Jersy, develops software for large international and domestic banks, investment management companies, depositories, exchanges and other high-end providers of financial services to manage the complex fee arrangements that are now part of the financial services arena.

Poker.com Inc. operates in the online gaming industry with a focus on legal, based gaming, as well as owning and operating a skill poker card room in the United States and Canada. licensing of software, marketing and royalty fees. Its strategy, in 2002, was to continue to acquire master licenses from software developers, and to resell their software programs to earn licensing fees and royalty fees, as opposed to developing its own proprietary software, which requires substantial capital and human resources. In January 2003, Poker.com acquired the rights to a provisional patent for the method of determining skill in a tournament setting, which would enable the development of an online game of skill poker.

Banc Of America Investment "We see opportunities to not only sell the Interactive Technologies Advantage Fee System as a stand-alone product, but also to wrap it with products such as cash management or risk management software to enable Fiserv clients to better manage today's increasingly complex financial services environment," said Fiserv Bank Systems Group president Michael Gantt.

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Banking Investment Interactive Technologies' approximately 50 employees and its president and CEO, Tom Dackow, are expected to join Fiserv. Interactive Technologies has about 60 clients and recorded revenue of about $10 million in 2004.

The trial software, which is also aimed at developers and other technology professionals, bit 3.5GB or 64 bit 4.4GB edition, s broadband link.

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