Nasdaq-listed Fiserv Inc. has finally agreed to acquire i Tech Corp., a provider of outsourced account and payment processing services, from First Interstate BancSystem Inc. for $40 million.

Fiserv expects to close the transaction by December 31 with First Interstate, which is a multistate, $6 billion banking organization headquartered in Billings, Mont.

i Tech provides outsourced account processing services as a licensee and reseller of the Fiserv ITI Premier core banking system to financial institutions and also provides clients with complementary services including EFT processing and check processing.

Headquartered in Brookfield, Wisconsin Fiserv, Inc. provides integrated information management systems and services primarily in the United States. The company operates through three segments: Financial Institution Services, Insurance Services, and CheckFree.

The scrip of the company closed on Tuesday at $35 on Nasdaq, up 7.56% compared to previous close of $32.55.