FIS finalises SunGard acquisition 02 December 2015Jacksonville Reporter: Drew Nicol
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FIS has concluded its acquisition of SunGard.
The US banking and technology provider first announced its intentions take on SunGard, which sees annual revenue of $2.8 billion, in August.
The newly combined entity’s estimated annual revenue rose to $9.3 billion and boasts 55,000 employees.
FIS is trading at $64.50 per share, as of 2 December, with a market capitalisation of $18.2 billion.
“At FIS, we are driving innovative solutions and delivering high-quality client experiences that move our clients’ business forward each and every day,” said Gary Norcross, president and CEO of FIS.
“This acquisition creates one of the broadest sets of technology assets and market expertise in the industry, and allows FIS to present new opportunities to our existing client base as well as to financial services markets that we have not historically served.”
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