Fidelity National Information Services yesterday reported that first quarter net income almost tripled to $93.6 million after last year’s combination with Metavante Technologies.
Revenues for the provider of back-office services surged 57% to $1.25 billion for the first quarter after completion of the Metavante deal, which was finalized last October.
The first quarter results for FIS, which has been buying and spinning off companies regularly for the past decade, also reflect last year’s spin off of Loan Processing Systems and the Jan. 1 sale of its ClearPar automated syndicated loan trade settlement business.
FIS delivers banking and payments technologies to more than 14,000 financial institutions and businesses in over 100 countries worldwide. FIS provides financial institution core processing, and card issuer and transaction processing services, including the NYCE Network.