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Fidelity National said it would pay in cash and stock, but did
not provide details.
The Jacksonville, Florida-based company said it expected to
refinance SunGard's debt, which stood at $4.67 billion as of
March 31.
SunGard was bought for $11.4 billion in 2005 by Silver Lake
Partners, TPG Capital, Bain Capital, Blackstone Group, Goldman
Sachs Capital Partners, KKR & Co <KKR.N> and Providence Equity
Partners Inc in one of the largest leveraged buyouts before the
2008 financial crisis.
The investment is one of the longest-held in private equity
history.
SunGard, based in Wayne, Pennsylvania, had filed in June for an
initial public offering.
BofA Merrill Lynch and Centerview Partners LLC acted as
financial advisers to Fidelity, while Willkie Farr & Gallagher
LLP served as legal adviser.
Goldman Sachs & Co, J.P. Morgan Securities, Barclays, Deutsche
Bank Securities Inc and Credit Suisse acted as financial
advisers to SunGard. Simpson Thacher & Bartlett and Shearman &
Sterling served as legal advisers.
(Reporting by Richa Naidu in Bengaluru; Editing by Sriraj
Kalluvila; Editing by Ted Kerr)
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