Through these initiatives, which were completed in recent months, FIS aims to expand its operations, specifically in offering services to chief financial officers and in delivering digital services to banks. Demica is a supply chain finance software company, while Dragonfly Financial Technologies operates as a digital corporate banking services firm. By including their offerings, FIS is set to scale its payment technology and other services that it already delivers to banking and capital markets clients.
Initially, FIS announced the potential acquisition of Demica back in December 2024, with the company looking at a deal valued at USD 300 million. However, at that time, no additional information regarding the move was provided. These deals with Demica and Dragonfly come as an addition to previous acquisitions made by FIS, with the company also securing an agreement with Torstone Technology in February 2024. The initiative was set to allow FIS to further accelerate its capital markets technology offering.
With these new businesses, FIS aims to scale into areas where it witnesses increased demand from its banking and capital markets customers. When it comes to the price paid, representatives from FIS did not offer additional information. Regarding Dragonfly, One Equity Partners, a private equity firm, disclosed the sale of the company to FIS in November 2024, but did not offer a sale price. Dragonfly was previously owned by ACI Worldwide, however, the latter sold it to One Equity Partners for USD 100 million in cash in June 2022.
Furthermore, commenting on the news, representatives from FIS underlined that the acquisition of Demica and Dragonfly is set to allow the company to deliver more services to chief financial officers and their staff, including payments, treasury, fraud prevention, supply chain management, and other software tools. FIS also projects an exponential growth in sales in terms of 2025 despite having a slow start in the first quarter of the year.
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