Clayton, Dubilier & Rice has agreed to buy a majority stake in business consulting firm Capco from Fidelity National Information Services Inc. (NYSE: FIS) for $477 million. The PE firm is acquiring a 60 percent stake in the target, while FIS will keep the remaining 40 percent.

Capco provides consulting services such as regulation compliance, mobile and digital services, and technology mainly for the wealth management and banking sectors. In technology and mobile in particular, online and mobile banking are increasingly becoming normal requirements for customers, according to Capco.

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