Fidelity National Information Keeps on Spinning

JACKSONVILLE, Fla. – Fidelity National Information Services, the back-office service provider created from last year’s spin-off from Fidelity National Title, yesterday said it plans to spin off its lender processing services operations to shareholders in a tax-free transaction. The company’s lender processing services provides origination, settlement, processing, default, valuation, risk management, tax, flood and collateral protection solutions to hundreds of credit unions and banks. Fidelity National Information was created by the acquisition of credit union cards processor Certegy Inc. and a half-dozen other back-office service providers by Fidelity National Title, then the separation of the two operations in a spin-off last year. The latest spin-off would separate lender processing from the company’s transaction processing operations, which includes the Certegy business. The latest spin-off is expected to take place in mid-2008.