Summary
Fidelity National Information Services, Inc. (FIS) announced a significant strategic move on March 31, 2009, entering into a definitive Agreement and Plan of Merger to acquire Metavante Technologies, Inc. This transaction will see Metavante merge with and into a wholly owned subsidiary of FIS, with the subsidiary surviving. This acquisition is expected to be a key development for FIS, potentially enhancing its market position and service offerings within the information services sector. In conjunction with the merger, FIS also secured a substantial investment, agreeing to issue approximately 16 million shares of its common stock for aggregate proceeds of $250 million. This capital infusion from affiliates of Thomas H. Lee Partners, L.P. and Fidelity National Financial, Inc. will likely support the financing of the Metavante acquisition and strengthen FIS's balance sheet. Investors should pay close attention to the upcoming filings, including the Form S-4 registration statement, which will provide further details on the transaction's terms and implications.
Key Highlights
- 1FIS enters into a definitive Agreement and Plan of Merger to acquire Metavante Technologies, Inc.
- 2The transaction will be structured as a merger with Metavante merging into a FIS wholly owned subsidiary.
- 3FIS is raising approximately $250 million through the issuance of 16 million shares of its common stock.
- 4The investment comes from affiliates of Thomas H. Lee Partners, L.P. and Fidelity National Financial, Inc.
- 5FIS and Metavante will file a Form S-4 registration statement with the SEC containing a joint proxy statement/prospectus.
- 6Investors are urged to review the Form S-4 and other SEC filings for detailed information about the merger and investment.
- 7Press release and investor presentation related to the announcement are attached as exhibits.