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FIS Completes Sale of Majority Interest in Capco Consulting Business
July 31, 2017
- FIS has completed the sale of its majority ownership stake in Capco to Clayton, Dubilier & Rice.
- Sale establishes Capco as an independent company.
- FIS retains 40 percent equity interest.
JACKSONVILLE, Fla., July 31, 2017 – FIS™ (NYSE: FIS), a global leader in financial services technology, has completed the sale of its majority ownership stake in Capco to funds managed by Clayton, Dubilier & Rice (CD&R). FIS received cash proceeds in the transaction of $469 million, or $441 million net of taxes and deal-related expenses. The sale establishes Capco as an independent company.
CD&R funds purchased approximately 60 percent equity interest in Capco through the transaction, which includes other consulting-related assets. FIS retains an approximately 40 percent equity interest in Capco.
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 53,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.
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