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JACKSONVILLE, Florida - Fidelity National Financial, Inc. (NYSE:FNF), a Fortune 500 provider of products, services and solutions to the real estate and financial services industries, today announced that its subsidiary Fidelity Information Services, Inc. had entered into an agreement to acquire WebTone Technologies, Inc., a provider of customer interaction management software designed to help financial institutions enhance sales and service through multiple delivery channels - the branch, the contact center, the Internet and through the network of relationship managers. The transaction is expected to close in the third quarter, subject to regulatory and other customary closing conditions.
WebTone began as a pioneer in the development of advanced call center and Internet capabilities and in recent years has continued to expand its core technologies with leading-edge branch and call center automation acquired through its purchase of the Broadway & Seymour Group in July 2001. "WebTone has consistently earned best-of-breed recognition for the TouchPoint® suite," said William P. Foley II, chairman and chief executive officer of Fidelity National Financial, Inc. "The company's track record of success and their impressive list of satisfied clients is a reflection of WebTone's deep, collective understanding of the financial services industry. They are a natural fit for our vision for Fidelity Information Services."
WebTone and the current Fidelity Information Services' Service Delivery team will be combined to form the new TouchPoint Solutions division. Jim Szyperski, president and chief executive officer of WebTone Technologies, will be tapped to head the new division. Szyperski will report to Roger Leitner, president of Fidelity Information Services' Enterprise Banking Solutions division. "The focus of the new division is to help financial organizations fully optimize customer interactions across all channels," said Mr. Szyperski. "We will build on the strengths of the TouchPoint® and Service Delivery products to provide a solution with best-of-breed functionality, deep vertical integration and cutting-edge technology. The strength of Fidelity National Financial and the breadth of solutions available from Fidelity Information Services present unparalleled capabilities to the financial services industry." FNF is also one of the world's largest providers of information-based technology solutions and processing services to the mortgage and financial services industries through its subsidiary Fidelity Information Services, which has clients in more than 50 countries. It processes nearly 50 percent of all U. S. residential mortgages, with balances exceeding $2 trillion and has processing and technology relationships with 49 of the top 50 U. S. banks who rely on Fidelity Information Services' processing and outsourcing products and services. More than 34 percent of the total dollar volume of all outstanding consumer loans in the country, including mortgages, is processed on Fidelity Information Services software applications. Fidelity National Information Solutions (NASDAQ: FNIS), a majority-owned, publicly traded subsidiary of FNF, provides data and valuations, technology solutions and services for the real estate and mortgage industries. More information about the FNF family of companies can be found at www.fnf.com, www.fidelityinfoservices.com and www.fnis.com.
This press release contains statements related to future events and expectations and, as such, constitutes forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be different from those expressed or implied above. The Company expressly disclaims any duty to update or revise forward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, the effect of governmental regulations, the economy, competition and other risks detailed from time to time in the "Management's Discussion and Analysis" section of the Company's Form 10-K and other reports and filings with the Securities and Exchange Commission.
Copyright © 2003 Fidelity National Financial, Inc. and Shareholder.com
