Overview Key strengths Key risks Leading position in banking software with mission critical offerings and recurring revenue stream. Highly competitive industry conditions and ongoing pricing pressure. Carve-out of a majority stake in merchant segment will result in material leverage reduction. Exposure to financial services industry and macro-sensitive geographies could lead to revenue and earnings variability. Strong liquidity and free cash flows despite inflationary pressure. Sizable dividend and historically large capital deployment to share repurchases. Fidelity National Information Services (FIS) will sell a 55% stake in its merchant segment, to be renamed Worldpay, to GTCR for $18.5 billion and expects to receive net proceeds of about $11.7 billion at close. It expects to complete the sale by the first quarter of
