
SAN DIEGO, Jan. 31, 2008 – TVC Capital, LLC, a San Diego based private equity fund focused on software acquisitions and investments, announced today that it had acquired Del Mar DataTrac®, Inc. from Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry worldwide. Details of the transaction were not disclosed.
For over 15 years, Del Mar DataTrac has been a leader in providing back-office lending software solutions designed to automate the residential mortgage lending process. Del Mar serves over 300 mortgage banking firms throughout the U.S.
“Fortunately, we have a hands on understanding of both this industry as well as the pressing needs of Del Mar’s customer base, so this is a great opportunity for all parties involved,” said Jeb Spencer, Managing Partner of TVC Capital. “Del Mar’s clients should expect a renewed focus on customer
satisfaction and a strong commitment to product enhancements.”
Spencer previously served as Del Mar’s Executive Chairman from 2003 to 2005, during which time the company’s customer base more than tripled. Veteran company employee, Rob Katz, has rejoined Del Mar and will help lead the ownership transition.
“This divestiture further demonstrates Fiserv’s focus on its core financial and insurance businesses and its Fiserv 2.0 goals of helping clients to achieve best-in-class status,” said Tom Warsop, Fiserv president of the Financial Institutions Group.
About TVC Capital, LLC
TVC Capital, LLC (www.tvccapital.com) is a San Diego-based private equity fund focused on the investment in and acquisition of software and software enabled service firms across a wide spectrum of industries. The firm seeks opportunities with companies generating revenues of $3 million to $20
million which meet a mission-critical need of their customer base. TVC was founded by Mr. Spencer and Steven J. Hamerslag. Recent transactions include: Mercent Corporation, MeetingSense Software, Inc., iQ4bis, Inc. and Accordent Technologies, Inc., all based on the west coast of the U.S.
About Fiserv, Inc.
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), software and systems solutions. Headquartered in Brookfield, Wis., the company serves more than 21,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. In 2007, the company completed the acquisition of CheckFree, a leading provider of electronic commerce services. Fiserv and CheckFree had more than $4.5 billion in combined pro forma total revenue for 2006. For more information, please visit www.fiserv.com.
For more information, visit www.delmardb.com
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