In last several hours, we have seen major deals in the financial services. SunGard after a decade of private equity ownership has been acquired by Fidelity National Information Services Inc. (FIS) in a $9.1 billion deal, pre-empting a previously discussed IPO. The SunGard deal will expand FIS further into banking and capital markets creating a combined company with $9.2 billion in revenue. If we thought SunGard touched every aspect of the capital markets, the acquisition by FIS, combines FIS's position in banking and payments to create a truly global financial offering. The sun will never set on FIS/SunGard from the perspective of its offerings. The SunGard acquisition offers solutions in trading/execution, asset management, wealth, security lending and post-trade processing. The trend of consolidating vendors in the capital markets has just been simplified. It appeared SunGard was on an IPO path with the financial owners of the firm leveraging an active fintech public market to exit their positions, but FIS as a strategic buyer saw an opportunity to expand its financial technology portfolio at a discount to the original 2005 deal.