FIS acquires majority stake in Virtus
FIS has acquired a majority stake in credit-focused fund administrator Virtus Partners.
The deal marks a new era for consolidation plays in the tech vendor and fund administration spaces, with FIS expanding into service provision beyond its licensed software roots.
Andrew Bateman, SVP of capital market solutions – buy-side at FIS stated: “Virtus is a rapidly growing, leading provider of high-value managed services and technology solutions focused on the credit and loan markets.
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Categories: NewsOutsourcingFund administration
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