22 October 2017
visit www.atos.net

PE firms eye buy-out of Fidelity National Information Services

07 May 2010  |  9973 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  |  8285 views  |  0 comments
Fidelity National agrees $2.94bn deal to buy Metavante

Fidelity National agrees $2.94bn deal to buy Metavante

01 April 2009  |  9314 views  |  3 comments
Fidelity offloads Certegy Australia for $30 million

Fidelity offloads Certegy Australia for $30 million

14 July 2008  |  9064 views  |  0 comments
Fidelity National to spin off lender processing division

Fidelity National to spin off lender processing division

25 October 2007  |  5172 views  |  0 comments
Fidelity to buy eFunds for $1.8bn

Fidelity to buy eFunds for $1.8bn

27 June 2007  |  9154 views  |  0 comments
Fidelity buys offshore BPO firm Second Foundation

Fidelity buys offshore BPO firm Second Foundation

28 February 2007  |  7895 views  |  0 comments
Fidelity National Financial restructures business into two companies

Fidelity National Financial restructures business into two companies

27 April 2006  |  6318 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comRegister now

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
14936 views comments | 17 tweets | 29 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
13343 views comments | 22 tweets | 28 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9879 views comments | 13 tweets | 10 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
9858 views comments | 12 tweets | 23 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8882 views comments | 9 tweets | 18 linkedin

Featured job

Find your next job