US financial software firm SunGard sold for US$9b

New York

FIDELITY National Information Services, a large service provider for banks, said on Wednesday that it had agreed to buy SunGard in a cash-and-stock deal that values the financial software company at about US$9.1 billion, including debt.

The SunGard acquisition is expected to complement Fidelity National Information Services' business of providing banking and payment technology services to the financial services industry. SunGard, also a financial services information technology and software provider, is based in Wayne, Pennsylvania. It posted annual revenue of US$2.8 billion in 2014 and has more than 13,000 employees. The combined company would have more than US$9.2 billion in annual revenue and more than 55,000 employees, Fidelity National Information Services said.