JACKSONVILLE, Fla., Oct. 27, 2010 − FISTM (NYSE: FIS), one of the world’s largest providers of banking and payments technology, today announced it has acquired ValueCentric Marketing Group, Inc. (VCMG), a leading software provider of loyalty and rewards solutions to the retail, transportation and other non-financial services industries. The terms of the deal were not announced.
This acquisition is a strategic move by FIS to enhance the company’s intellectual property for its loyalty and rewards offerings. It also enables FIS to expand its loyalty solutions into the healthcare, retail, petroleum, transportation and government markets, which are strategic growth markets for the company.
FIS is one of the oldest providers of loyalty and rewards programs in the nation and has been providing loyalty solutions for more than 20 years. The company currently supports over 7,000 loyalty programs for 3,500 financial services institutions and processes more than 10 million consumer loyalty accounts. The acquisition of VCMG adds 43 million loyalty and rewards accounts to the FIS portfolio as well as one of the largest local and regional merchant-funded coalition networks in North America.
“In the past several years, loyalty programs have moved beyond traditional credit card rewards systems,” said Bob Bream, president of North America Card and Payment Solutions, FIS. “FIS is a well-established leader of loyalty innovation to the financial services market and this transaction allows us to expand that innovation into other strategic growth areas.”
“We are excited to become part of FIS,” said Raymond H. Stanton, founder and CEO of VCMG. “The combination of our two companies creates an entity that will lead the loyalty market in scale, processing power and innovation.”
About VCMG
ValueCentric Marketing Group (VCMG) is an industry leading Loyalty & Rewards software provider delivering smart technology and next generation marketing solutions through its ValueSYSTM platform in the following industries: financial, retail, petroleum, healthcare and merchant coalition. The company is headquartered in Binghamton, NY with offices in Toronto, ON. For more information about VCMG, visit www.vcmg.com.
About FIS
FIS (NYSE: FIS) is one of the world’s largest global providers dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 30,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. FIS is a member of Standard & Poor’s 500® Index and consistently holds a leading ranking in the annual FinTech 100 list. For more information about FIS, visit www.fisglobal.com.
Forward-Looking Statements
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.
For More Information:
Marcia Danzeisen, 904.854.5083 Senior Vice President FIS Global Marketing and Communications [email protected]
Mary Waggoner, 904.854.3282 Senior Vice President FIS Investor Relations [email protected]