Fidelity National Financial, Inc. Announces the Closing of the Aurum Technology, Inc. Acquisition
March 12, 2004
Jacksonville, Fla. -- Fidelity National Financial, Inc. (NYSE:FNF) announced the closing of the acquisition of Aurum Technology, Inc. ("Aurum").
With more than 1,100 customers and $193 million in 2003 revenue, Aurum is a leading provider of outsourced and in-house information technology solutions for the community bank and credit union markets. The company's primary offerings include core processing, check imaging, ATM/EFT processing, branch automation, business intelligence and network services solutions. With the acquisition, FNF emerges as the only provider of industry leading core processing applications for every segment of the financial services market, including de novo banks, credit unions, community banks, regional banks as well as the largest national and global financial institutions.
"Aurum is a perfect strategic fit for FNF and represents another significant step in the growth of our financial institution processing and outsourcing businesses," said Chairman and Chief Executive Officer William P. Foley, II. "Aurum more than doubles our existing community bank customer base and its 600 credit union customers make FNF one of the largest providers of technology-based business solutions to this key market segment. Additionally, the significant item processing customer base also allows FNF to better capitalize on the implementation of Check 21 legislation."
Source: Fidelity National Financial, Inc.