Metavante, Fidelity National merger on track to close Oct. 1

By Lisa Kerner

Charlotte, N.C., Sept. 4 - Metavante Technologies, Inc. and Fidelity National Information Services, Inc. said they expect to close their merger on Oct. 1 after shareholders of both companies voted to approve the transaction at separate special meetings on Friday.

As previously reported, Fidelity agreed to acquire Metavante in an all-stock transaction valued at approximately $3 billion.

Metavante shareholders will receive a fixed exchange ratio of 1.35 shares of Fidelity common stock for each share of Metavante common stock they own.

Milwaukee-based Metavante Technologies is the parent company of Metavante Corp., which delivers banking and payment technologies to financial services firms and businesses.

Fidelity, located in Jacksonville, Fla., provides core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products.

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