Willkie represents FIS in its agreement to sell its Public Sector and Education businesses to Vista Equity Partners.
On December 7, Willkie client Fidelity National Information Services, Inc. (FIS), a global leader in financial services technology, announced an agreement to sell its SunGard Public Sector and Education businesses to Vista Equity Partners for $850 million. The transaction is expected to close in the first quarter of 2017.
The SunGard Public Sector and Education businesses provide a comprehensive set of technology solutions to address public safety and public administration needs of government entities as well as K-12 school districts. Willkie also represented FIS in its original acquisition of the SunGard Public Sector and Education businesses as part of the broader $9 billion acquisition of SunGard in 2015.
FIS is the world's largest global provider dedicated to financial technology including software, services, consulting and outsourcing solutions focused on retail and institutional banking, payments, asset and wealth management, risk and compliance, trade enablement, transaction processing and record-keeping.
Willkie’s representation of FIS in this transaction was led by corporate partner Robert Rachofsky, with assistance from partners Eugene Chang, Christopher Peters, Mark Holdsworth and Viktor Okasmaa; associates Howard Block, Thomas Sharkey, Rachel Dooley, David Stauber and Hyejin Jennifer Kim; and law clerks Andrew Marmer and Paul DeTurk.