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Fiserv Acquires Kentucky Firm

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Fiserv Inc. says it has acquired Administrative Services Group Inc., Louisville, Ky., an employee benefits plan administrator.[@@]

Fiserv, Brookfield, Wis., will not disclose the purchase price, but it says it is paying for Administrative Services with cash.

Administrative Services sells services to self-funded benefit plans under the name Commonwealth Administrators L.L.C. to employers in Kentucky and Indiana.

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The firm also sells consulting services and runs union health plans.

Fiserv has no plans to lay off any Administrative Services employees as a result of the acquisition, a Fiserv spokesman says.