Boston, MA 10/02/2014 (wallstreetpr) – Fidelity National Information Services (NYSE:FIS) disclosed that it completed the acquisition of Clear2Pay. The company acquired it to improve its global payments portfolio. Only on September 3, it announced its intention to acquire the company and the closure has come within a month’s time.
Completes Acquisition
The company said that the deal brings in fresh corporate payment services and solutions, according to its statement. This included cross-currency and high-value corporate payments, managed services of payments and processing of utility payments. These payment facilities would bolster the company’s range of payments services in all the geographies it serves.
Fidelity National Information Services (NYSE:FIS)’s President and Chief Operating Officer, Gary Norcross, said that the acquisition indicated another step towards its commitment to deliver a latest payment gateway to its clients. He believed that the portfolio of payment services would be more useful for big and international financial institutions.
The company’s President also said that the acquisition would further expand its technologies, as well as, assets for the benefit of its clients. This would enable simplify payment operations thus reducing the costs and at the same time offer better experiences.
Acquisition
Only a month ago, Fidelity National Information Services (NYSE:FIS) announced its definitive deal to buy Clear2Pay to take advantage of the rapidly growing payments domain segment within the financial services industry. The company wanted to tap the strategically important area for growth potentials.
While announcing the deal, the company indicated that it would pay Cleaar2Pay Euro 375 million to buy the entire stake after the closure of the transaction. The transaction would not have any impact and be neutral to the company’s adjusted earnings per share for the current year. The closure of the transaction just immediately after the third quarter ended indicated that it has closed ahead of its predicted closure in the fourth quarter.
The adoption of technology, especially through the smart devices, would drive the next generation to opt for more payment friendly services and the acquisition would perfectly fit the company’s scheme of things.
