JACKSONVILLE, Fla. – Fidelity National Information Services, which was created last year by a decoupling from Fidelity National Title, said its plans for another spin-off, this time of its huge mortgage processing business, is on track.
The plan calls for a tax-free spin-off to shareholders of the mortgage processing business into a separately traded company, to be called Lender Processing Services. The company’s remaining business, which services credit card and other financial transactions, will be retained in FIS.
Among the FIS shareholders that will benefit from the new spin-off is Fidelity National Financial, a title company that continues to hold a large share of FIS stock.
Fidelity National Financial itself is exploring another financial engineering with the possible sale of its non-title business. That includes specialty insurance and insurance claims management company Sedgwick CMS.
