Fidelity National Information Services to Acquire SunGard

By ASPPA Net Staff • August 17, 2015 • 0 Comments
Fidelity National Information Services has agreed to buy financial software maker SunGard for $9.1 billion in stock and cash. It made the announcement on Aug. 12.

This is not the first time for SunGard, which had been bought a decade ago by a consortium of seven private-equity firms. As recently as June 3, SunGard had filed a Form S-1 with the Securities and Exchange Commission to go public.

The value of Fidelity National Information Services’ shares rose approximately 6% on the morning the announcement was made to $69.02 per share. That gives it a $19.4 billion market capitalization, according to The Street, which reports that the deal will close during the fourth quarter.

Fidelity National Information Services expects to refinance SunGard's debt, which amounted to $4.67 billion by the end of the first quarter of 2015.