Fidelity National Targets Biggest Money Managers in SunGard Deal

Fidelity National Information Services Inc.’s $9.1 billion takeover of SunGard Data Systems Inc. seeks to jump-start business with the world’s largest money managers. Private-equity firms also may walk away with a sizable profit.

Buying the provider of financial software “breaks us into the largest asset managers in the world,” FIS Chief Executive Officer Gary Norcross said in an interview Wednesday as the deal drove his firm’s stock up the most in five years. SunGard brings a suite of products to help financial firms manage portfolios, trades, risks and cash. While FIS offers services and technology, “we were realizing in the whole capital markets side of financial institutions, we didn’t have those products,” he said.