Industry News

Fidelity National Financial restructures business units

Company will have 51% ownership in information and technology channel

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Fidelity National Financial today announced a restructuring plan that will merge Fidelity National Financial with Fidelity National Information Services, a software and information technology company. Under the plan, Fidelity National Financial's corporate existence will cease and the company will be merged with Fidelity National Information Services. The deal is expected to close in the fourth quarter. After this merger, Fidelity National Title, a title insurance unit of Fidelity National Financial, will change its name to Fidelity National Financial and change its NYSE ticker symbol to "FNF," according to media reports. William P. Foley II will remain CEO of Fidelity National Financial and Alan L. Stinson will remain COO of the new organization. In a separate deal, Fidelity National Financial will create a spinoff company by contributing most of its assets and liabilities (but will retain its ownership interest in Fidelity National Information Services) to Fidelity National Title G...