Business News

FIS Announces Agreement to Sell Certegy Australia, Ltd. Assets

Monday 14. July 2008 - Fidelity National Information Services, Inc. (NYSE:FIS), a Fortune 500 company and a leading global provider of core processing, card issuer and transaction processing services, today announced that it has entered into a definitive agreement with Flexigroup Limited under which Flexigroup will acquire the operating assets of Certegy Australia, Ltd. for approximately $30 million (U.S.) in cash and other consideration.

Certegy Australia provides retail lending services to consumers. As part of the agreement, Flexigroup will manage on behalf of Certegy Australia the collection of customer accounts receivable outstanding on the sale closing date.

The transaction is expected to close in the fourth quarter of 2008. Based on the anticipated sales proceeds and collection of receivables, FIS expects to realize net cash of approximately $160 million, with the majority of the receivables expected to be collected within 18 months.

“Our decision to exit this business is consistent with our strategic review of non-core assets in order to better focus our resources and capital toward providing industry leading technology solutions to financial institutions,” stated Lee A. Kennedy, president and chief executive officer of FIS. “Similar to the previously announced sale of our gaming operation, this transaction should drive higher revenue growth, profitability and free cash flow over time.”