No deal for FNIS, Factual Data

August 30, 2002

Previously announced acquisition called off

Inman News Features

Fidelity National Information Solutions Inc. (Nasdaq: FNIS) and Factual Data Corp. (Nasdaq: FDCC) have mutually agreed to terminate the agreement and plan of merger announced on July 24 under which FNIS would have acquired FDCC.

Neither company provided additional information about the terminated agreement.

In July, FNIS announced that FDCC would become a wholly-owned subsidiary of the company once certain conditions, including the completion of due diligence by both parties, FDCC stockholder approval, certain third-party consents and other customary closing conditions were met.

Factual Data Corp. provides customized mortgage credit reports and other mortgage related services, consumer credit reports, employment screening, resident screening and commercial credit reports.

FNIS provides data and technology services to lenders, real estate agents and other participants in the real estate industry.

Copyright: Inman News Service

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