Just months after the significant divestment of WorldPay, Stephanie Ferris, CEO of Fidelity National Information Services (FIS), confirms the company’s robust M&A direction, signaling a strategic shift towards further acquisitions. The divestiture to private equity firm GTCR substantially reduced FIS’s debt from $19.1 billion to $10 billion, according to a spokesman, giving FIS a more favorable leverage ratio of approximately 2.7 times by March 31. FIS, a leading fintech firm, is designating about $1 billion annually for acquisitions, particularly aiming for small, revenue-generating products that align with its long-term goals, in contrast to its previous acquihire of Bond Financial Technologies. Ferris indicated interest specifically in the digital and payments sector and commercial lending technology, with FIS poised to carry out several small-scale transactions focused on businesses earning between $150 million and $200 million in revenue. FIS demonstrated its financial health by surpassing earnings expectations for the fifth consecutive quarter and recently launched Atelio, a platform designed to embed financial services into various businesses, with notable early adopters. On a more personal note, Ferris’s journey to CEO at FIS wasn’t without challenges, having navigated a period where FIS could only manage a single acquisition due to financial strain. Nonetheless, Ferris’s decision to divest WorldPay has been both bold and strategic, reversing one of the reputed transactions of 2019. This move played a significant role in stabilizing the company’s finances. Ferris’s leadership has been marked by resilience and a willingness to make tough decisions, carving a path that underlines a strong commitment to stewardship and a dedication to FIS’s robust position within the financial sector.

Financial Technology (Fintech), Private Equity, Commercial Banking, Capital Markets,United States, Global

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