22 August 2017
Visit http://response.ncr.com

PE firms eye buy-out of Fidelity National Information Services

07 May 2010  |  9931 views  |  2 cash

Three big private equity firms are cooking up an $11 billion buy out of transaction processing outfit Fidelity National Information Services (FIS) in a sign that the market appetite for large leveraged deal-making is returning.

According to people briefed on the talks, Blackstone Group is partnering with existing Fidelity stakeholder Thomas H Lee Partners and TPG Capital to construct a deal that would be largest leveraged buy-out since the credit crisis struck in 2007.

The bank and card data processor posted $105.9 million in net income last year on nearly $3.8 billion in revenue. The company's largest shareholder is Warburg Pincus, which gained a nearly 11% stake following Fidelity's $2.94 million buy out of Metavante last year.

FIS stock defied the market meltdown on Thursday to close up 10% at $28.68 after the Wall Street Journal broke the story.

Comments: (2)

A Finextra member
A Finextra member | 07 May, 2010, 15:12

$11m?

$11bn, presumably.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Paul Penrose
Paul Penrose - Finextra - London | 07 May, 2010, 16:06

Finextra fat finger error. Good job we don't play the markets. Corrected.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Temenos and Metavante resolve core banking dispute

Temenos and Metavante resolve core banking dispute

22 July 2009  |  8232 views  |  0 comments
Fidelity National agrees $2.94bn deal to buy Metavante

Fidelity National agrees $2.94bn deal to buy Metavante

01 April 2009  |  9263 views  |  3 comments
Fidelity offloads Certegy Australia for $30 million

Fidelity offloads Certegy Australia for $30 million

14 July 2008  |  9027 views  |  0 comments
Fidelity National to spin off lender processing division

Fidelity National to spin off lender processing division

25 October 2007  |  5123 views  |  0 comments
Fidelity to buy eFunds for $1.8bn

Fidelity to buy eFunds for $1.8bn

27 June 2007  |  9112 views  |  0 comments
Fidelity buys offshore BPO firm Second Foundation

Fidelity buys offshore BPO firm Second Foundation

28 February 2007  |  7840 views  |  0 comments
Fidelity National Financial restructures business into two companies

Fidelity National Financial restructures business into two companies

27 April 2006  |  6277 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comdownload the paper nowvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
12420 views comments | 26 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
10977 views comments | 22 tweets | 34 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
10204 views 0 | 6 tweets | 1 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
10161 views comments | 10 tweets | 8 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
10064 views comments | 21 tweets | 34 linkedin

Featured job

Find your next job