Fidelity National to buy financial software maker SunGard Data Systems for $9.1 bn

US payment services provider Fidelity National Information Services Inc (FIS) today struck a deal to buy privately-held financial software maker SunGard Data Systems Inc for $9.1 billion, including debt.

Florida-based Fidelity National did not disclose details of the cash and stock deal.

SunGard was acquired by Silver Lake Partners, TPG Capital, Bain Capital, Blackstone Group, Goldman Sachs Capital Partners, KKR & Co and Providence Equity Partners Inc in 2005 for $11.4 billion.

SunGard is one of the world's leading financial software companies, with annual revenue of $2.8 billion. The company provides solutions for financial services, the public sector and education. Its software solutions are delivered via hosted or on premise deployments.

Its software is delivered via Software as a Service (SaaS), in the cloud and on premises, surrounded by an extensive suite of service offerings. The Pennsylvania-based company has around 13,000 employees and 14,000 customers in more than 100 countries.

FIS said that it and SunGard have complementary technology solutions and services encompassing retail and corporate banking, payments, risk management, asset solutions and insurance.

The combined company will have over $9.2 billion in annual revenues, more than 55,000 employees and support thousands of clients in over 100 countries worldwide.

''This is a significant milestone for FIS,'' said, Gary Norcross, president and CEO of 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.''

Russ Fradin, SunGard president and CEO said, ''Our focus has always been on delivering more value to our clients and making decisions that achieve our growth and performance objectives. We are proud to become part of one of the financial services industry's most respected and solidly performing companies.''