Fidelity National Information Systems (FIS), a global provider dedicated to banking and payments technologies, will acquire Capco, a service provider to the global financial services industry and backed by Romesh Wadhwani’s private equity firm-Symphony Technology Group (STG), for $300 million.
Capco is the leading provider of integrated consulting and technology services to the global financial services industry. Capco has grown by 150% over four years, including 80% organic growth in 2010 to more than $225 million in revenue and record profitability.
STG’s current portfolio consists of eight global companies with a combined revenue of $2.5 billion and 1,500 employees spread across North Amercia, Europe and Asia.
STG Chairman and CEO Romesh Wadhwani, said, “We are thankful for the efforts of CEO Rob Heyvaert, COO Tom McKelvey, Head of Capco Europe Peter Schurau, and the rest of the Capco management team as they have led the transformation of Capco. We have enjoyed an outstanding partnership with management, and we’re delighted that their new relationship with FIS will allow them to take Capco to the next level.”
FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 30,000 people worldwide.