Vista Equity Partners $850 million acquisition of SunGard Public Sector and Education unit from FIS

Overview:

• Private equity firm Vista Equity Partners has acquired the SunGard Public Sector and Education unit from software producer Fidelity National Information Services (FIS).
• The Public Sector and Education unit provides technology solutions for the safety and administrative needs of various government entities and schools.
• The transaction is expected to result in $500 million of net proceeds for FIS, which will be used to reduce current debt.
• FIS acquired Sungard in November, 2015.
• Barclays and BofA Merrill Lynch served as financial advisers for FIS.

Kurt Stumpo - Journalist