FIS Completes Sale of Public Sector and Education Businesses


JACKSONVILLE, Fla., Feb. 1, 2017 FIS™ (NYSE: FIS), a global leader in financial services technology, today announced it has completed the previously announced sale of its Public Sector and Education businesses to Vista Equity Partners (Vista) for $850 million. Cash proceeds, net of taxes and deal-related expenses from the transaction, are approximately $500 million. The transaction results in an approximate pre-tax book gain to the company of $85-90 million. Net cash proceeds from the transaction will be used to pay down the company’s debt.

The divestiture is consistent with FIS’ primary goals of serving financial institutions and maintaining leadership positions in markets where the company has meaningful scale.

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