Fidelity National Information Services Inc., a provider of banking and payments technology, agreed to buy software maker SunGard Data Systems Inc. in a deal valued at $9.1 billion, including the assumption of debt.
FIS, as the firm is known, will issue a combination of cash and stock to acquire all of SunGard's equity, Jacksonville, Florida-based FIS said Wednesday in a statement. The combined company will have more than $9.2 billion in annual revenue, 55,000 employees and operate in more than 100 countries, according to the statement.
"This is a significant milestone for FIS," Chief Executive Officer Gary Norcross said in the statement. "We are enhancing our ability to empower our clients and deepen client relationships through an expanded full-service offering."
SunGard, which makes software for financial institutions, is owned by seven private-equity firms, including Silver Lake Management, Providence Equity Partners and KKR & Co. The Wayne, Pennsylvania-based company filed to go public in June. Its long-term debt was $4.67 billion at the end of March, according to regulatory filings, while cash was $555 million.
