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ADDING and REPLACING FIS Advances Leadership Position in Mobile Financial Services through Acquisition of mFoundry

JACKSONVILLE, Fla.–(BUSINESS WIRE)–

Adding two paragraphs at the end of the release beginning with FIS
Forward-Looking Statements

The corrected release reads:

FIS ADVANCES LEADERSHIP POSITION IN MOBILE FINANCIAL SERVICES THROUGH
ACQUISITION OF MFOUNDRY

Expanding on its leadership position in mobile financial services, FIS™
(FIS), the world’s largest provider of banking and payments
technology, today announced it has signed a definitive agreement to
acquire the remaining 78 percent interest in mFoundry, a foremost
provider of mobile banking and payment solutions for financial
institutions and retailers. Previous to this transaction, FIS held a 22
percent interest in the company. The addition of mFoundry creates one of
the leading mobile entities in the financial services space and enables
FIS to leverage its technology assets across a broader client base.

“mFoundry has a well-earned reputation for innovation, powerful vision
and agile development and delivers one of the most advanced mobile
platforms in the market today,” noted Gary Norcross, FIS president and
chief operating officer. “Consumers have adopted the mobile channel
faster than any other delivery channel in existence, and delivering
industry-best mobile solutions is a vital focus area for FIS. Our goal
is to provide the solutions that underpin an organization’s ability to
best reach and serve its customers, and the addition of mFoundry plays a
key role in that strategy.”

Founded in 2004 and serving more than 850 clients, mFoundry’s
customer-focused solutions have become a leading platform for mobile
banking and mobile retail and have been adopted by some of the largest
banks, credit unions, payments processors and retailers in the country.

Commenting on the transaction, Drew Sievers, mFoundry co-founder and
chief executive officer stated, “FIS has been a great investment partner
for the last several years, and the timing was right for us to combine
forces to create the unparalleled industry leader in mobile delivery.
This transaction enables us to capitalize on new market opportunities
and bring top-tier mobile capabilities to our combined client bases.”

FIS anticipates paying approximately $120 million in cash to acquire the
remaining 78 percent ownership interest in mFoundry. The transaction,
subject to customary regulatory approvals and contractual closing
conditions, is expected to close by the end of the first quarter.

About
mFoundry

mFoundry is North America’s largest provider of mobile
banking
and mobile payments services. The leading
software-as-a-service (SaaS), cloud-based mobile banking offering,
mFoundry works with more than 850 banks and credit unions nationwide,
including Bank of America, PNC Bank, Zions Bank and more than one-third
of the top 50 financial institutions in the U.S. mFoundry is
headquartered in Larkspur, California, with offices in downtown San
Francisco. For more information, visit http://www.mfoundry.com.

About
FIS

FIS (FIS) is the world’s largest global provider dedicated to
banking and payments technologies. With a long history deeply rooted in
the financial services sector, FIS serves more than 14,000 institutions
in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs
more than 32,000 people worldwide and holds leadership positions in
payment processing and banking solutions, providing software, services
and outsourcing of the technology that drives financial institutions.
First in financial technology, FIS tops the annual FinTech 100 list, is
425 on the Fortune 500 and is a member of Standard Poor’s 500® Index.
For more information about FIS, visit www.fisglobal.com.

FIS Forward-Looking Statements

This news release contains “forward-looking statements” within the
meaning of the U.S. federal securities laws. Statements that are not
historical facts, including statements about our expectations, hopes,
intentions, or strategies regarding the future, are forward-looking
statements. These statements relate to future events and our future
results, and involve a number of risks and uncertainties.
Forward-looking statements are based on management’s beliefs, as well as
assumptions made by, and information currently available to, management.
Any statements that refer to beliefs, expectations, projections or other
characterizations of future events or circumstances and other statements
that are not historical facts are forward-looking statements.

Actual results, performance or achievement could differ materially from
those contained in these forward-looking statements. The risks and
uncertainties that forward-looking statements are subject to include
without limitation: the occurrence of any event, change or other
circumstance that could give rise to the termination of the transaction
agreement; successful completion of the proposed transaction on a timely
basis; the impact of regulatory reviews on the proposed transaction; the
effect of legislative initiatives or proposals, statutory changes,
governmental or other applicable regulations and/or changes in industry
requirements, including privacy regulations; the risks of reduction in
revenue from the elimination of existing and potential customers due to
consolidation in or new laws or regulations affecting the banking,
retail and financial services industries or due to financial failures or
other setbacks suffered by firms in those industries; changes in the
growth rates of the markets for core processing, card issuer, and
transaction processing services; failures to adapt our services and
products to changes in technology or in the marketplace; internal or
external security breaches of our systems, including those relating to
the theft of personal information and computer viruses affecting our
software; difficulties in integrating past and future acquired
technology or business’ operations, services, clients and personnel;
competitive pressures on product pricing and services including the
ability to attract new, or retain existing, customers; an operational or
natural disaster at one of our major operations centers; and other risks
detailed in “Risk Factors” and other sections of FIS’ Annual Report on
Form 10-K for the fiscal year ended December 31, 2011 and other filings
with the SEC. Other unknown or unpredictable factors also could have a
material adverse effect on our business, financial condition, results of
operations and prospects. Accordingly, readers should not place undue
reliance on these forward-looking statements. These forward-looking
statements are inherently subject to uncertainties, risks and changes in
circumstances that are difficult to predict. Except as required by
applicable law or regulation, we do not undertake (and expressly
disclaim) any obligation and do not intend to publicly update or review
any of these forward-looking statements, whether as a result of new
information, future events or otherwise.

Article source: http://finance.yahoo.com/news/fis-advances-leadership-position-mobile-123000761.html

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