PRZOOM - /newswire/ -
Jacksonville, FL, United States, 2011/08/04 - FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, announced plans to begin repurchasing shares of common stock under its existing share repurchase authorization - FISglobal.com. NYSE: FIS
The announcement follows today’s earlier statement by FIS that it is no longer engaged in discussions regarding a potential acquisition of Misys PLC.
Approximately 13.6 million shares remain available for repurchase under the existing authorization that was approved by the company’s Board of Directors on February 4, 2010. FIS may make purchases in the open market at prevailing market prices or in privately negotiated transactions at the discretion of management, subject to its assessment of market conditions and other factors.
“We believe that share repurchases represent a very attractive use of capital at this time,” stated Frank Martire, president and chief executive officer of FIS. “This action clearly indicates our confidence in the continued success of FIS and is consistent with our strategy to effectively deploy capital to fund growth initiatives, manage financial risk and return value to our shareholders.”
FIS (fisglobal.com) 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. FIS is ranked 426 on the Fortune 500, is a member of Standard & Poor’s 500® Index and consistently holds a leading ranking in the annual FinTech 100 list.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.
For More Information:
Mary Waggoner, SVP, FIS Investor Relations
P: 904.854.3282, Email: mary.waggoner[.]fisglobal.com.