JACKSONVILLE, Fla. — Fidelity National Information Services, the credit card processor to the majority of credit unions, has announced its intent to purchase eFunds Corporation, a leading EFT processor.
The cash deal will be valued at roughly $1.8 billion, the firms said. Under the terms of the agreement, EFD shareholders will receive $36.50 in cash for each share of common stock.
“The acquisition of eFunds provides FIS with greater scale, extends our presence in the U.S. and international banking markets, and expands the distribution channel for our core processing and risk analytic services,” said FIS Executive Chairman William P. Foley, II.
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