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Fidelity National Information Services, Inc. Completes Acquisition of EFD/eFunds Corporation Fidelity National Information Services, Inc. (NYSE:FIS) announced that it has completed the acquisition of EFD/eFunds Corporation. Under the terms of the merger agreement, FIS acquired all of the outstanding shares of EFD common stock for approximately $1.8 billion in cash, or $36.50 per share. William P. Foley, II, executive chairman of FIS, stated, "eFunds is an excellent fit for our company, and further strengthens our competitive positions in electronic processing and risk management services. FIS and EFD customers will benefit from a more comprehensive product offering and strong industry expertise." "eFunds` products and services complement our existing businesses, and provide FIS with greater scale, product capability and expanded geographic reach," added Lee A. Kennedy, president and chief executive officer for FIS. "We look forward to working with the EFD team to deliver high quality and innovative solutions to our customers." FIS expects to realize approximately $65 million in annual cost savings. The transaction is expected to be neutral to 2007 cash earnings per diluted share and accretive to 2008 cash earnings per diluted share, including synergies. Within approximately one week, letters of transmittal and additional instructions regarding the process for exchanging shares for cash consideration of $36.50 per share will be mailed to EFD shareholders of record as of today`s closing date.
About Fidelity National Information Services
Fidelity National Information Services, Inc. (NYSE:FIS) is a leading provider of core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products; and outsourcing services to financial institutions, retailers, and mortgage lenders. FIS has processing and technology relationships with 35 of the top 50 global banks, including nine of the top 10. Approximately 50 percent of all U.S. residential mortgages are processed using FIS software. FIS is a member of Standard and Poor`s (S&P) 500(R) Index and has been ranked the number one banking service provider in the world by American Banker and the research firm Financial Insights and the number two overall financial technology provider in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 7,800 financial institutions in more than 60 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.
Forward Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management`s beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; the effects of our substantial leverage, which may limit the funds available to make acquisitions and invest in our business; the risks of reduction in revenue from the elimination of existing and potential customers due to consolidation in the banking, retail and financial services industries; failures to adapt our services to changes in technology or in the marketplace; adverse changes in the level of real estate activity, which would adversely affect certain of our businesses; our potential inability to find suitable acquisition candidates or difficulties in integrating acquisitions; significant competition that our operating subsidiaries face; the risks and uncertainties related to our recently announced data theft, which continues to be investigated, and which includes the potential for fines, increased operating costs and loss of business; the possibility that our acquisition of EFD/eFunds may not be accretive to our earnings due to undisclosed liabilities, management or integration issues, loss of customers or other factors; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company`s Form 10-K and other filings with the Securities and Exchange Commission.
Source: Fidelity National Information Services, Inc. CONTACT: Mary K. Waggoner, Senior Vice President of Investor Relations,
+1-904-854-3282, or Michelle Kersch, Senior Vice President, Marketing and
Corporate Communications, +1-904-854-5043, both of Fidelity National
Information Services Web site: http://www.fidelityinfoservices.com/
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