Jan 31 Payment processor Fidelity National
Information Services Inc said it would buy the remaining
78 percent stake in mFoundry that it does not already own for
about $120 mln in cash to focus on the mobile banking business.
Larkspur, California-based mFoundry, which provides mobile
banking and mobile payments services to companies such as Bank
of America Corp, PNC Bank and Zions Bancorporation
, is backed by Bank of America, MasterCard Inc,
PayPal, Intel Capital and private equity firm Apax Partners.
Fidelity, which already owns 22 percent in mFoundry, is
expected to close the deal by the end of the first quarter, a
statement from the company said.
Riverside, Jacksonville-based Fidelity's shares were
marginally up at $37.27 on the New York Stock Exchange on