M&A Deal Summary

Variant Equity Acquires Certegy

On September 4, 2018, private equity firm Variant Equity acquired internet software and services company Certegy from FIS Global

Acquisition Highlights
  • This is Variant Equity’s 1st transaction in the Internet Software and Services sector.
  • This is Variant Equity’s 1st transaction in the United States.
  • This is Variant Equity’s 1st transaction in Florida.

M&A Deal Summary
Date 2018-09-04
Target Certegy
Sector Internet Software and Services
Buyer(s) Variant Equity
Sellers(s) FIS Global
Deal Type Divestiture

Target

Certegy

Clearwater, Florida, United States
Certegy is a provider of credit, debit and merchant card processing, e-banking, check risk management and check cashing services to over 6,000 financial institutions, 117,000 retailers and 100 million consumers worldwide. Certegy is based in Clearwater, Florida.

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Buyer(S) 1

Buyer

Variant Equity

Investor

Category Private Equity Firm
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

Variant Equity is a private equity firm focused on acquiring corporate divestitures, private equity owned companies, and businesses facing succession challenges. Variant is industry agnostic and will consider opportunities throughout North America with at least $75 million in revenue. Variant Equity was formed in 2017 and is headquartered in Los Angeles, California.

DEAL STATS #
Overall 1 of 3
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 1 of 3
State (Florida) 1 of 1
Country (United States) 1 of 3
Year (2018) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-16 Coach USA

Paramus, New Jersey, United States

Coach USA is a provider of passenger transportation and mobility services including intercity bus, public transit, employee transportation, campus shuttle, and airport transportation services. Coach USA was founded in 1995 and is based in Paramus, New Jersey.

Buy $271M

Seller(S) 1

SELLER

FIS Global

Jacksonville, Florida, United States
Category Company
Founded 1968
Sector Financial Services
Employees60,000
Revenue 9.8B USD (2023)
DESCRIPTION
FIS' corporate headquarters in Jacksonville, Florida.
FIS' corporate headquarters in Jacksonville, Florida.

FIS Global is a provider of core processing for financial institutions; card issuer and transaction processing services; and outsourcing services to financial institutions and retailers. FIS Global was incorporated in 1968 and is based in Jacksonville, Florida.

DEAL STATS #
Overall 3 of 5
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 2 of 4
State (Florida) 2 of 3
Country (United States) 2 of 4
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-23 Capco

London, United Kingdom

Capco is a global technology and management consultancy specializing in driving digital transformation in the financial services industry. Capco operates at the intersection of business and technology by combining innovative thinking with unrivalled industry knowledge to fast-track transformation initiatives for the banking and payments, capital markets, wealth and asset management, insurance, and the energy sector. Capco was founded in 1998 and is based in London, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-22 Reliance Trust Company Of Delaware

Wilmington, Delaware, United States

Reliance Trust Company Of Delaware is a limited purpose trust company with more than $7 billion in assets under administration. RTCDE has more than 90 employees in seven locations and accepts appointments as Agent for Trustee/Guardian/Executor, Co-Trustee, Custodian, Discretionary Trustee, and Directed Trustee for all types of personal trust accounts. RTCDE works with financial advisors to offer trust services that preserve the advisor/client relationship, administering more than 5,000 trust accounts including Life Insurance Trusts and Special Needs Trusts.

Sell -
Mergr

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