Citicorp to Sell Data Processing Units: The...
From Times Staff and Wire Reports
Citicorp to Sell Data Processing Units: The New York-based company announced an agreement to sell the principal financial data processing units of Citicorp Information Resources Inc. to FIserv Inc. The divestiture will result in the reduction of approximately 700 staff and $75 million in annual operating expenses for Citicorp while helping FIserv in its announced intention of becoming the preeminent provider of specialized data services to financial institutions worldwide, the companies said.
