Fidelity Acquires Offshore IT Service Provider

Fidelity National Information Services, Inc. (NYSE:FIS) said late Tuesday that it has expanded its offshore presence in India through the acquisition of Second Foundation, Inc., a provider of offshore global information technology services. As a result of the acquisition, FIS said it had expanded its captive offshore global delivery staff by more than 600 personnel and broadened its service offerings. The company offers business process outsourcing to mortgage banking clients, and boasts more than 2,000 seats in both India and the Phillipines. Second Foundation has extensive experience in a multitude of areas, including outsourced product development, quality assurance and business intelligence services as well as implementation services of third-party software applications. The Second Foundation team will continue to support existing clients and augment current global delivery capabilities, Fidelity said.

“Having a wholly-owned India-based global delivery capability strengthens FIS’ current ability to provide competitive, cost effective and innovative services and solutions to its customers,” said Shahid Charania, president of Fidelity Business Solutions India. “FIS plans to continue to invest in the development of offshore capabilities to broaden its global service offerings and to reduce internal operating costs.” In addition to Fidelity Business Solutions India, FIS will continue its relationship with Covansys Corporation, a global information technology services company. FIS currently contracts with approximately 575 full-time Covansys resources dedicated primarily to FIS’ internal software application management and development initiatives. “Having a wholly owned, offshore global delivery company complements our existing relationship with Covansys by providing both a captive and outsource alternatives,” said Charania. For more information, visit http://www.fidelityinfoservices.com.

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