Purchase of Metavante Technologies
- Fidelity National Information Services (FIS) purchases rival Metavante Technologies for about 2.94 billion USD. It gives birth to the world's largest provider of payment and financial processing services, estimated at 10 billion USD total worth. Metavante was spun off by the American financial service provider Marshall & Ilsley in 2007. It provides banking and payments technologies to about 8000 financial services firms and businesses. FIS expects saving costs for $260 million and a ROI in 2010.
- As soon as approved by regulators, the new entity should come into existence in Q42009.