All in the Family: Fidelity National Information Sells Unit to Fidelity National Title

JACKSONVILLE, Fla. – Fidelity National Information Services, which has been on an acquisition binge recently, said yesterday it has agreed to sell its Property Insight LLC title plant management unit to Fidelity National Financial, for $95 million in cash. The two Fidelity companies were part of the same company until last year when they were separated. Property Insight manages, maintains and updates the title insurance plants owned by Fidelity National Financial and other title underwriters nationwide. The deal is expected to close in the third quarter. Fidelity National Information acquired Applied Financial Technology, a provider of risk analytic modeling for the mortgage industry, last month and is in the process of acquiring eFunds Corp., the processor of transactions for the credit union-owned CO-OP Financial Services. Fidelity National Financial, itself, is in the process of acquiring human resources giant and cards processor Ceridian Corp.