Mubasher TV
Contact Us Advertising   العربية

US fintech FIS to acquire payment firm Worldpay for $35bn

US fintech FIS to acquire payment firm Worldpay for $35bn

Mubasher: US financial technology group Fidelity National Information Services (FIS) agreed to acquire payment processor Worldpay for nearly $35 billion.

FIS’ offer for Worldpay, values the payment giant at around $43 billion, including debt, both companies said.

Worldpay shareholders would receive 0.9287 FIS shares and $11 in cash for each share held, valuing the company at $112.12 per share, a premium of around 14% to Friday’s closing price, according to estimates by Thomson Reuters.

“Scale matters in our rapidly changing industry,” FIS CEO Gary Norcross said.

The combined entity will have revenue of around $12 billion, the companies said.

This is the biggest deal so far in the booming payment industry, and the latest in a wave of consolidation in the financial software and payments technology industries. FIS bought payment processor First Data last January for $22 billion.

Worldpay was acquired by US credit card processing firm Vantiv in 2017 for $10.63 billion.