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Fidelity National to sell a software unit to Vista Equity for $850 million

Reuters

(Reuters) - Fidelity National Information Services Inc (FIS.N), a maker of software mainly for the financial industry, said on Wednesday it would sell its SunGard Public Sector and Education business to Vista Equity Partners for $850 million.

The business being sold makes software with varied uses such as allowing municipalities to communicate and plan meetings with residents to managing prisons.

Fidelity National expects net proceeds of about $500 million, which would be used to reduce debt, it said in a statement.

(Reporting by Nikhil Subba in Bengaluru; Editing by Savio D'Souza)