Fidelity Nat'l information solutions to buy Factual Data Corp. for 1.64 times revenue

Weekly Corporate Growth Report, May 28, 2002

The Deal: Fidelity National Information Solutions Inc. has signed a letter of intent to acquire Factual Data Corporation. According to the terms of the letter, shareholders of Factual Data will receive the equivalent of $13.75 for each share of Factual Data stock. Each share will be exchanged for a maximum of $10.3125 in Fidelity National Stock and a minimum of $3.4375 in cash. The Fidelity stock will be valued using the average closing price over the ten day trading period ending two days before the close of the deal. Fidelity and Factual Data expect to sign a definitive agreement during the month of June 2002.

Discussion: Factual Data resells credit data and other information, delivering it in the form of Web-based reports. The company primarily provides data to mortgage lenders, but also provides employment screening, fraud protection services, and credit and background checks for leasing agents and landlords.

Fidelity National Information Solutions, formerly known as VISTA Information Solutions, provides databases and tools to real estate professionals and individual consumers. The company is a leading provider of production and workflow software systems to the escrow and real estate title industries.

According to William Foley II, Chairman of the Board of Fidelity National, the acquisition will immediately elevate Fidelity to a top three position in the mortgage credit reporting market.