UPDATE 1-Fidelity National to buy consultancy firm Capco

* To pay $292 mln in cash, plus milestone payments

* Capco expected to generate $225 mln 2010 revenue

Oct 19 (BestGrowthStock) – Electronic payment processor Fidelity
National Information Services Inc (FIS.N: ) said it agreed to buy
privately held Capco for $292 million in cash to strengthen its
international presence.

Capco, which has more than 1,000 professionals worldwide,
provides global business and technology consultancy solely to
the financial services industry.

The company is expected to generate about $225 million in
revenue in 2010.

Capco founder and CEO Rob Heyvaert will continue to lead
the Belgium-based company following the transaction, which is
expected to close by year-end.

Shares of Jacksonville, Florida-based Fidelity closed at
$28.44 Monday on the New York Stock Exchange. Their value has
risen by 8 percent after the company announced plans to buy
back as much as $2.5 billion shares in May. [ID:nSGE64P0K3]
(Reporting by Rachel Chitra in Bangalore; Editing by Aradhana
Aravindan)

UPDATE 1-Fidelity National to buy consultancy firm Capco