FIS Announces Repurchase of $200 Million of Shares Held by Warburg Pincus
JACKSONVILLE, Fla.--(BUSINESS WIRE)-- FIS™ (NYS: FIS) the world's largest provider of banking and payments technology, today announced that it has entered into an agreement to repurchase $200 million, or approximately 5.7 million shares, of FIS common stock beneficially owned by Warburg Pincus Private Equity IX, L.P. at a purchase price of $35.03 per share. The purchase price was determined based on the closing price of FIS common stock on Dec. 12, 2012. The transaction is expected to close on or before Dec. 19, 2012.
Inclusive of this transaction, FIS has repurchased more than $450 million, or approximately 14 million shares, of its common stock year to date. Approximately $650 million remains available under the existing share repurchase authorization.
FIS (NYS: FIS) is the world's largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 425 on the Fortune 500 and is a member of Standard & Poor's 500® Index. For more information about FIS, visit www.fisglobal.com.
This news 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 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.
Kim Snider, 904.438.6278
FIS Global Marketing and Corporate Communications
Mary Waggoner, 904.438.6282
Senior Vice President
FIS Investor Relations
KEYWORDS: United States North America Florida
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