Metro Jacksonville

Community => News => Topic started by: thelakelander on April 01, 2009, 01:02:02 PM

Title: Fidelity National Information Services to acquire large firm
Post by: thelakelander on April 01, 2009, 01:02:02 PM
This should move FNIS up the Fortune 500 list.

QuoteFidelity National Information Services to acquire large financial services processing firm

Fidelity National Information Services of Jacksonville today announced it will acquire Metavante Technologies Inc. of Milwaukee, Wis., boosting the company’s worldwide reach as a provider of technology and services to financial institutions.

QuoteIn 2008, the companies generated pro forma combined revenue of $5.2 billion  and free cash flow of more than $500 million. As a result of the combination, FIS anticipates it will achieve cost synergies of approximately $260 million, according to a news release

full article: http://www.jacksonville.com/business/2009-04-01/story/fidelitys_nis_to_acquire_large_financial_services_processing_company