FIS to Buy Clear2Pay

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FIS, a banking technology and consulting company, has agreed to buy Clear2Pay, a payment processor, for approximately $493 million.

The acquisition is expected to close in the fourth quarter. It would expand FIS' payment offerings and strengthen its presence in Europe, FIS said in a Sept. 3 press release.

"This strategic acquisition demonstrates our commitment to delivering the technologies and assets that will enable our clients, especially large and global institutions, to realize a truly modern payments environment," said Gary Norcross, president and chief executive of FIS, in the release.

FIS' other payments-related acquisitions include its 2013 purchase of mFoundry and its2009 purchase of Metavante. FIS is based in Jacksonville, Fla. Clear2Pay has its headquarters in Brussels, Belgium.

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