Thursday, April 2, 2009

A Message from Frank Martire

Posted by Mark Brousseau

The following is a copy of an e-mail that was sent to all Metavante employees on April 1, 2009:

An Important Announcement: A Message from Frank Martire

Today we are pleased to announce that the Boards of Directors of Fidelity National Information Services, Inc. (FIS) and Metavante Technologies, Inc. (Metavante) have approved a plan to combine our companies. This combination positions us to offer one of the industry’s most comprehensive ranges of core processing, payment and risk management services to financial institutions and other businesses worldwide.

Both companies are preeminent leaders in our industry. FIS is ranked the number one banking technology provider in the world by American Banker and the research firm Financial Insights in the annual FinTech 100 rankings.

Headquartered in Jacksonville, Florida, FIS maintains a strong global presence, serving more than 14,000 financial institutions in more than 90 countries. Metavante is based in Milwaukee, Wisconsin and brings a 45-year tradition of innovative solutions and client partnership, serving 8,000 financial services firms and businesses worldwide.

The name selected for the newly combined company is Fidelity National Information Services, Inc., with the corporate headquarters to be located in Jacksonville, Florida. Following the completion of the transaction, the company will be publicly traded on the New York Stock Exchange under the “FIS” ticker symbol.

Leadership Team
The following individuals have been named to the new FIS leadership team:

  • William Foley, Chairman of the Board (Current FIS Chairman of the Board)
  • Lee Kennedy, Executive Vice Chairman of the Board (Current FIS President and CEO)
  • Frank Martire, President and Chief Executive Officer (Current Metavante Chairman and CEO)
  • Gary Norcross, Chief Operating Officer (Current FIS COO)
  • Michael Hayford, Chief Financial Officer (Current Metavante President and COO)
Announcements about other members of the senior management team will be forthcoming as the new organization begins to take shape.

Strategic Rationale and Benefits
You are probably wondering about the rationale behind the decision to combine FIS and Metavante.

Here are some of the key benefits:

Scale and Reach – The scale of the combined company creates efficiencies, which improve our long-term competitive position. We also gain the ability to leverage FIS’s global reach to sell Metavante products outside North America.

Product Breadth and Depth – Our combined product and service portfolio will enhance our growth prospects. The increase in core banking relationships expands our cross-selling opportunities, giving us complete coverage of the top 100 financial institutions. In addition, we become an industry leader in item processing, prepaid card solutions and credit card processing for community banks.

Financial Strength – The combined company has more than $5 billion in pro forma 2008 revenue and a high percentage of recurring revenue. Increased cash flow will allow us to fund growth opportunities and to further pay down our debt ― both very important in this challenging economy.

As both the banking and financial technology industries continue to consolidate, combining our two companies is the best way to position the new FIS for future growth and long-term success.

Your Role
Focus on our clients. Each and every decision we make is with our clients’ best interests in mind. It is very important that we continue to deliver excellent service throughout the integration period and beyond. Assure our customers that the superior service and support provided by each of our companies will continue and then follow through by delivering on our commitments.

Equip yourself with information to clearly communicate about the combined company and to explain the benefits. Share any client or employee concerns with your manager so an appropriate response can be identified. You may also e-mail with any questions you may have.

Direct any media inquiries to Marcia Danzeisen, SVP, Marketing and Corporate Communications for FIS at 904-854-5083 or Chip Swearngan, VP, Corporate Communications for Metavante at 414-357-3688.

Next Steps
The transaction is subject to approval by FIS and Metavante shareholders, receipt of regulatory approvals, and the satisfaction of customary closing conditions. While this planning process takes place, business line executives and sales representatives will meet with key clients to communicate the benefits of this combination and respond to any questions or concerns.

Concurrently, integration teams representing both companies will form to begin the planning process of creating an even stronger resulting organization. Until the transaction closes, please limit direct contact between employees of the two companies unless you are specifically requested to do so.

Thank You
In closing, we want to take this opportunity to thank you for your continued dedication and support. We have the best employees in the industry and we are excited about the new opportunities this important step in the evolution of our companies presents.

Lee Kennedy, President and CEO, Fidelity National Information Services, Inc.
Frank Martire, Metavante Technologies, Inc., Chairman and CEO

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