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PE firms eye buy-out of Fidelity National Information Services

07 May 2010  |  10035 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.

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Paul Penrose
Paul Penrose - Finextra - London | 07 May, 2010, 16:06

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

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