TITLE

Fidelity Delays IPO of Tech Unit

AUTHOR(S)
Muolo, Paul
PUB. DATE
September 2004
SOURCE
National Mortgage News;9/13/2004, Vol. 28 Issue 50, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article discusses the procrastination of insurance giant Fidelity National Financial Inc. (FNF) in spinning off its mortgage technology unit, IPO. FNF management blamed the delayed spin-off/initial public offering on a "relatively weak and unpredictable" equities market. It also cited its just-announced $400 million acquisition of a bank technology firm. Intercept, as a reason for the delay. For years Alltel Information Systems was the king of mortgage service bureaus but in recent years its franchise has been dented somewhat by industry consolidation, competition and some firms bringing their loan technology in-house.
ACCESSION #
14414499

 

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