JACKSONVILLE, Fla., March 30, 2016 /PRNewswire/ -- FNFV Group (NYSE: FNFV), Inc. today announced a $47,431,165 additional capital investment in Ceridian Holding II, LLC, a newly formed investment vehicle that will become a shareholder of Ceridian HCM Holding, Inc. ("Ceridian"). FNFV is one participant in the transaction that will raise a total of $150 million for Ceridian to fund the continued growth of the Dayforce customer base and for other general corporate purposes.
"Ceridian's Dayforce product is clearly winning in the marketplace," said Chairman William P. Foley, II. "At December 31, 2015, Dayforce had signed more than 2,550 total customers. This capital will allow the company to make the investment in additional implementation resources, continued cloud-based development and further sales and marketing efforts that will all significantly increase the growth of cloud-based revenue at Ceridian and further enhance the reported financial results of the company. We look forward to participating in the continued success of Dayforce and Ceridian's on-going transformation into a leading cloud-based provider of payroll and workforce management technology."
About Fidelity National Financial, Inc.
Fidelity National Financial, Inc. is organized into two groups, FNF Group (NYSE: FNF) and FNFV Group (NYSE: FNFV). FNF is a leading provider of title insurance, technology and transaction services to the real estate and mortgage industries. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title and National Title of New York - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides industry-leading mortgage technology solutions and transaction services, including MSP®, the leading residential mortgage servicing technology platform in the U.S., through its majority-owned subsidiaries, Black Knight Financial Services and ServiceLink Holdings. FNFV holds majority and minority equity investment stakes in a number of entities, including American Blue Ribbon Holdings, LLC, Ceridian HCM, Inc., Fleetcor Technologies, Inc., Digital Insurance, Inc. and Del Frisco's Restaurant Group, Inc. More information about FNF and FNFV can be found at www.fnf.com.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; weakness or adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; our dependence on distributions from our title insurance underwriters as a main source of cash flow; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.
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SOURCE Fidelity National Financial, Inc.