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FIS Reportedly Spending $300 Million to Buy UK FinTech Demica
FISFidelity National Information Services(FIS) PYMNTS.com·2024-12-16 16:24

FIS is reportedly acquiring U.K. supply chain finance firm Demica in a 300milliondeal.Thetwopartiesagreedtoadeallastweek,SkyNewsreported,citingunnamedsources.Anannouncementissaidtobeforthcoming.FISdidnotimmediatelyreplytoPYMNTS’requestforcomment.AspokespersonforDemicasaidthecompanydoesnotcommentonmarketrumorsorspeculation.ThenewscameweeksafterDemicaannouncedinapressreleasethatitsassetsunderadministrationsurpassed300 million deal.The two parties agreed to a deal last week, Sky News reported, citing unnamed sources. An announcement is said to be forthcoming.FIS did not immediately reply to PYMNTS’ request for comment. A spokesperson for Demica said the company does not comment on market rumors or speculation.The news came weeks after Demica announced in a press release that its assets under administration surpassed 40 billion, while the compound ...