FIS, provider of banking and payments technology and services, has agreed to acquire SunGard. The two companies have complementary technology for insurance, payments, risk management, asset solutions, and retail and corporate banking, FIS said.
FIS will acquire 100% of SunGard’s equity and issue a combination of cash and stock valuing the company at $9.1 billion, including SunGard’s debt, which FIS expects to refinance. The combined company will have more than $9.2 billion in annual revenues, more than 55,000 employees and support thousands of clients in more than 100 countries, FIS said.
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