ILS join forces with Fiserv. (Technology).

Integrated Loan Services (ILS) is joining forces with Fiserv, Inc. to expand its reach and distribution network nationwide. The union of the two companies was effective Dec. 5. Terms of the agreement were not disclosed. ILS will continue operations as a division of Fiserv, with its headquarters remaining in Rocky Hill, Conn. All executives and employees of ILS will stay in their present positions.

"We are very pleased to combine our strengths with Fiserv, Inc., a multi-national financial services technology company," says Jerry Smith, CEO and vice chairman of ILS. "This represents a tremendous opportunity for ILS to continue its growth, innovation and entrepreneurial spirit.As a result of this merger, we expect to more rapidly penetrate the mid-west and West Coast markets as well as to leverage our products into existing technology connections established with Fiserv's 10,000 customers."

As a public company Fiserv (stock symbol FISV) is an industry leader in the financial services technology sector for check clearing and retail banking systems. It generated $2 billion in revenue for 2001 and has a $7.5 billion market capitalization with offices around the world. Fiserv's customers include over 10,000 banks, credit unions and insurance companies. In 2001, ILS is projecting annual revenues of $30 million up from just $13 million in 2000.