After weeks of rumors of a possible deal, Fidelity National Information Services Inc. announced Wednesday morning that it agreed to buy SunGard for $9.1 billion.
Jacksonville-based Fidelity National Information Services, or FIS, said the merger will create a company with $9.2 billion in annual revenue that offers a range of financial technology services.
The two companies will have more than 55,000 employees serving clients in more than 100 countries, FIS said.
In a news release, CEO Gary Norcross called the deal a “significant milestone” for FIS.
“By bringing together two innovative companies with common business models, similar cultures, strong leadership and complementary solutions, we are enhancing our ability to empower our clients and deepen client relationships through an expanded full-service offering,” he said.
“We embrace this transaction and believe it is the best outcome for our employees and the clients we are dedicated to serving,” SunGard CEO Russ Fradin said in the news release.
Wayne, Pa.-based SunGard filed plans for an initial public offering in May but almost immediately after the filing, news reports said the company’s private equity owners were also considering a sale of the business.
FIS was named as one possible buyer and two weeks ago, Bloomberg News reported that FIS was in exclusive talks to buy SunGard.
FIS said Wednesday the $9.1 billion sale price includes a combination of cash and stock, and the assumption of SunGard debt.
The companies did not immediately announce details of how the merger will impact operations.
SunGard has had offices in Jacksonville since acquiring a local computer services firm called Corbel & Co. in 1996.
FIS hopes to close the deal in the fourth quarter this year.