22 October 2017
visit www.avoka.com

Fidelity National Information Services said to be in talks to buy SunGard

31 July 2015  |  8763 views  |  2 Stock market newspaper with coins stacked

Shares in Fidelity National Information Services have climbed on speculation that the payment services group is in talks to buy financial technology conglomerate SunGard.

Private equity-owned SunGard filed for an IPO in June, having appointed financial advisors to explore its options in April following an approach from an unidentified third party.

At the time, SunGard's owners had hung a $10 billion price tag on the company, but according to reports from Bloomberg, the tech powerhouse is currently in exclusive talks with Fidelity over a mixed cash and stock bid of $8.3 billion.

SunGard was acquired in August 2005 by seven private equity firms for $11 billion. SunGard's owners, Bain Capital Partners, The Blackstone Group, Goldman, Sachs, KKR, Providence Equity Partners, Silver Lake Partners and TPG Capital, successfully steered the firm through the worst of the 2008 financial crisis, but have seen its value diminish in an economic environment more conducive to smaller, agile competitors selling tactical solutions to belt-tightening banking customers.

Annual revenue at SunGard increased last year by two percent to $2.8 billion, with total debt at $4.7 billion and cash at $447 million. Adjusted earnings remained flat at $765 million.

Shares in Fidelity rose 4.1% in morning trading as the news crossed the wires, with both firms declining to comment.

Comments: (2)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 03 August, 2015, 14:04

"...belt-tightening baking customers" - oxymoron or typo:)

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Paul Penrose
Paul Penrose - Finextra - London | 03 August, 2015, 14:39

Doh! (or should that be dough). Thanks for the heads up. Fixed

1 thumb up! 1 thumb up! (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

SunGard files for IPO

SunGard files for IPO

04 June 2015  |  4591 views  |  0 comments | 2 tweets | 6 linkedin
SunGard explores IPO

SunGard explores IPO

06 May 2015  |  4226 views  |  0 comments | 5 tweets | 2 linkedin
SunGard explores possible sale - Reuters

SunGard explores possible sale - Reuters

21 April 2015  |  7248 views  |  0 comments | 15 tweets | 8 linkedin
SunGard appoints Marianne Brown as COO of financial systems

SunGard appoints Marianne Brown as COO of financial systems

21 January 2014  |  7853 views  |  0 comments | 1 tweets | 5 linkedin
PE firms eye buy-out of Fidelity National Information Services

PE firms eye buy-out of Fidelity National Information Services

07 May 2010  |  9973 views  |  2 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.atos.netvisit www.vasco.com

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

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job