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Fidelity National Information closes SunGard public sector, education biz sale

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Fidelity National Information closes SunGard public sector, education biz sale

Fidelity National Information Services Inc. sold its SunGard public sector and education business to Vista Equity Partners for $850 million.

The transaction resulted in cash proceeds, net of taxes and deal-related expenses, of about $500 million, and pretax book gain to the company of about $85 million to $90 million.

Fidelity National will use the net cash proceeds to pay down its debt.