Fidelity National Financial to Take Over Ceridian in $5 Billion Deal

JACKSONVILLE, Fla. – Title insurance giant Fidelity National Financial announced yesterday it is teaming up again with private equity fund Thomas H. Lee Partners to acquire Ceridian Corp., the provider of human resources and payroll services and a major partner of credit unions, for $5.3 billion. The two entities had teamed up previously to create Fidelity National Information Services, the back-office service provider for credit unions and banks that was spun off from Fidelity’s title insurance business last year. Ceridian provides payroll services for dozens of credit unions and is the parent of Comdata, a payments processor and card issuer. Under the deal, Ceridian shareholders will receive $36 for their shares, a 17% premium over the price on Feb. 12, when the company put itself on the market.