News

FIS signs over Certegy to investment manager

September 7, 2018

FIS announced this week that it has sold "substantially all of the assets" of its Certegy Check Services business unit. Certegy, a provider of check and credit card verification services, merged with FIS in 2006.

According to a press release, the buyer is an affiliate of Variant Equity Advisors LLC, a U.S.-based investment management firm focused on corporate divestiture transactions in a number of industries, including data- and technology-based organizations.

The divestiture is consistent with FIS’ strategic focus on providing software-based solutions to its financial institution, corporate and other clients, the release said.

The transaction closed on Aug. 31, at which point Certegy Check Services became an independently operated company.

Terms of the deal were not disclosed.