Monday, May 07, 2007

M& A Roundup

Citigroup has entered into a definitive agreement to purchase the outstanding shares of BISYS for about USD 1.47 billion. Post-acquisition, BISYS Fund Services and Alternative Investment Services division will be integrated with Citigroup's operations to create a globally competitive entity in the investment servicing industry and allow it to offer a wide range of product offerings. Subsequent to the acquisition, JC Flowers will acquire BISYS' Insurance Services Group and Retirement Service business from Citigroup. Citigroup is likely to gain USD 645 million from this transaction. JC Flowers also plans to merge Crump, the insurance business of JC Flowers, with BISYS's Commercial Insurance Services to create a leading provider of wholesale insurance brokerage and retirement service solutions.

Fidelity National Information Services (FIS) has purchased Marketing Solutions for an undisclosed amount. The executive team of Marketing Solutions headed by Neal Packard will also join FIS. Marketing Solutions offers Web-based technology products which allow financial organizations to modify offerings, cross-sell products, and maximize client relationships. As a result of the acquisition, Marketing's CRM capabilities, profitability solutions, and relationship pricing structure will be merged with FIS solutions. The transaction will also increase FIS' potential, which in turn, will help the company's clients to make more informed decisions.

1 comment:

Anonymous said...

good work keep it up...

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