(By Balaseshan) Fidelity National Information Services (NYSE: FIS) said it has agreed to repurchase $200 million, or about 5.7 million shares, of FIS common stock beneficially owned by Warburg Pincus Private Equity IX L.P. at $35.03 per share.
The purchase price was determined based on the closing price of FIS common stock on December 12, 2012. The transaction is expected to close on or before December 19, 2012.
Inclusive of this transaction, FIS has repurchased more than $450 million, or about 14 million shares, of its common stock year to date. About $650 million remains available under the existing share repurchase authorization.
Headquartered in Jacksonville, Florida, FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions.
The company's products are Biller Direct, Card, Commercial Treasury, Core Banking, Document Output, eBanking, ePayment, Government, Hardware Solutions Healthcare, Image Lending, Loyalty Mobile Financial Services, NYCE Payments Network, Payment Network Solutions, Retail Payments, Risk, Fraud & Compliance, Sales and Service, Technology Platforms and Wealth Management Solutions.
FIS closed Wednesday's regular session down 0.14% at $36.11. The stock has been trading between $24.98 and $37.14 for the past 52 weeks.