FIS To Sell Kingstar Business to Zhongping Capital
November 16, 2017
- FIS enters definitive agreement to sell its China-focused Kingstar software business to Zhongping Capital.
- Transaction anticipated to close in the first quarter of 2018.
JACKSONVILLE, Fla., Nov. 16, 2017 – FIS™ (NYSE: FIS), – a global leader in financial services technology, today announced that it has signed a definitive agreement to sell its SunGard Kingstar Data System (China) Co., Ltd. (“Kingstar”) business to Zhongping Capital. The transaction is anticipated to close in the first quarter of 2018. Terms of the agreement were not released.
Kingstar provides software and processing solutions for China’s financial markets. The divestiture is consistent with FIS’ primary goals of serving financial institutions and maintaining leadership positions in markets where the company has meaningful scale.
BDA Partners acted as financial advisor to FIS on the transaction.
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.
About Zhongping Capital
Zhongping Capital is a leading alternative asset manager in China with over RMB30 billion of assets under management. Investing across finance services, TMT, healthcare, environmental services, new energy, and Industry 4.0, Zhongping aims to create long-term value for its investors by adopting a patient “buy-and-hold” investment approach and helping its portfolio companies achieve their full potential with implementation of growth and best-practice operational strategies. Zhongping Capital’s vision is to create value for the investors, promote prosperity of the society, provide professional development opportunities to the employees and propel the economic growth of China.
For more information about Zhongping Capital, please visit Zhongping’s website at http://www.zhongpingcapital.com.
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