December 7, 2016 / 1:30 PM / in 7 months

BRIEF-FIS to sell Sungard public sector, education businesses for $850 mln

2 Min Read

Dec 7 (Reuters) - Fidelity National Information Services Inc :

* Fidelity National Information Services Inc - transaction will include all Sungard public sector and education solutions

* Fidelity National Information Services Inc - Sungard public sector business will become a new independent company under ownership of Vista

* Fidelity National Information Services Inc - expects cash proceeds, net of taxes and deal-related expenses, from transaction of approximately $500 million

* Fidelity National Information Services Inc - expected public sector and education businesses to contribute $0.15 - $0.16 to its full-year 2017 adjusted EPS

* Fidelity National Information Services Inc - expects cash proceeds, net of taxes and deal-related expenses, from transaction of approximately $500 million.

* Fidelity National Information Services Inc - deal for $850 million

* Fidelity National Information Services Inc - sungard education business will become part of Vista-owned Powerschool

* Fidelity National Information Services Inc - net cash proceeds from deal will be used to reduce outstanding debt.

* FIS to sell Sungard public sector and education businesses to Vista Equity Partners Source text for Eikon: Further company coverage:

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