JACKSONVILLE, Fla. — Fidelity National Information Services, the credit card processor to the majority of credit unions, has announced its intent to purchase eFunds Corporation, a leading EFT processor.

The cash deal will be valued at roughly $1.8 billion, the firms said. Under the terms of the agreement, EFD shareholders will receive $36.50 in cash for each share of common stock.

“The acquisition of eFunds provides FIS with greater scale, extends our presence in the U.S. and international banking markets, and expands the distribution channel for our core processing and risk analytic services,” said FIS Executive Chairman William P. Foley, II.

“We believe this is a very attractive transaction for our shareholders,” stated Paul F. Walsh, EFD's chairman and chief executive officer. “We have been very impressed by FIS' success in assimilating a number of acquisitions in a relatively short period of time, and believe that our customers will benefit from the extensive product set and industry expertise that the combined companies have to offer.”

The transaction is expected to be completed by the end of the third quarter of 2007, subject to certain regulatory approvals, approval by EFD shareholders and customary closing conditions, the firms said in a prepared statement.