Fidelity National Wins eFunds Bidding

JACKSONVILLE, Fla. – Fidelity National Information Services announced yesterday it had agreed to acquire electronic funds processor EFD, formerly known as eFunds, which was put on the auction block two months ago. Fidelity National will pay $36.50 a share, or $1.8 billion for EFD, which processes transactions for the credit union-owned CO-OP Financial Services. It is the second acquisition announced this week by Fidelity National, which said Monday it has acquired Applied Financial Technology, a provider of advanced analytics for the mortgage securities market. EFD has been on the market since April when the company announced it was exploring a variety of options to maximize shareholder value. At least four other companies, including Fiserv, are believed to have submitted bids to acquire the company.