Search
 

FNF Continues Acquisitive Ways, Delays IPO Spinoff of FIS

JACKSONVILLE, Fla. - Fidelity National Financial has bought another core processor, this one a community bank specialist, and is delaying the initial public offering of stock that would result in spinning off its IT operations into a separate company. FNF, a major provider of title insurance and mortgage processing services,...

By Staff Writer | Updated on September 28, 2004

JACKSONVILLE, Fla. – Fidelity National Financial has bought another core processor, this one a community bank specialist, and is delaying the initial public offering of stock that would result in spinning off its IT operations into a separate company. FNF, a major provider of title insurance and mortgage processing services, just bought Atlanta-based InterCept, a core processor, EFT and check imaging provider, for $400 million. Citing the need to integrate that purchase and uncertain market conditions, it now will delay its planned IPO of Fidelity National Information Services unit (FIS) until at least the first quarter of next year. The title insurance giant in the past year has bought Aurum Technology, which itself had recently acquired Computer Consultants Corp., a core processor for several hundred small credit unions. Other FNF acquisitions included Sanchez Computer Associates, core processor Alltel Information Services (its sole credit union client is Navy Federal), Bancware and Pro-Soft.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.