Payment processor Fidelity National Information Services Inc said it would purchase the remaining 78 percent stake in mFoundry that it does not already own for about $120 million in cash to focus on the mobile banking business. Larkspur, California-based mFoundry, which provides mobile banking and mobile payments services to companies such as Bank of America Corp, PNC Bank and Zions Bancorporation , is backed by Bank of America, MasterCard Inc, PayPal, Intel Capital and private equity firm Apax Partners.Fidelity, which already owns 22 percent in mFoundry, is expected to close the deal by the end of the first quarter, a statement from the company said.Riverside, Jacksonville-based Fidelity's shares were marginally up at $37.27 on the New York Stock Exchange on Thursday.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC fell by 0.53% or $-0.06/share to $11.32. In the past year, the shares have traded as low as $6.72 and as high as $12.20. On average, 161488992 shares of BAC exchange hands on a given day and today's volume is recorded at 17884724.
Fidelity National Information Services, Inc. is a United States-based company that develops financial transaction solutions. Shares of FIS fell by 0.16% or $-0.06/share to $37.11. In the past year, the shares have traded as low as $28.52 and as high as $37.93. On average, 2350540 shares of FIS exchange hands on a given day and today's volume is recorded at 86582.
Source
