FIS sells Certegy cheque processing unit
FIS (NYSE: FIS), a global leader in financial services technology, today announced it has sold substantially all of the assets of its Certegy Check Services business unit to an affiliate of Variant Equity Advisors, LLC, a U.S.-based investment management firm focused on corporate divestiture transactions in a number of industries, including data- and technology-based organizations.
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The divestiture is consistent with FIS’ strategic focus on providing software-based solutions to its financial institution, corporate and other clients.
With the closing of this transaction on Fri., Aug. 31, the Certegy Check Services business became an independently operated company.