FIS (Fidelity National Information Services, Inc.), a Jacksonville, Florida-based financial services technology company, as per recent press reports, has announced to acquire Worldpay Inc., a Cincinnati, Ohio-based payments processing firm, through a cash plus stock combined payment valuing Worldpay at approximately $43 billion (including the assumption of Worldpay debt, which FIS expects to refinance).
As per the agreement, Worldpay’s shareholders will receive 0.9287 FIS shares and an additional $11 in cash for each Worldpay share. When the deal is finalized, FIS shareholders in total will own approximately 53% and Worldpay shareholders in total will own approximately 47% of the merged company.
“Scale matters in our rapidly changing industry,” said Gary Norcross, chairman, president, and chief executive officer, FIS. “Upon closing later this year, our two powerhouse organizations will combine forces to offer a customer-driven combination of scale, global presence and the industry’s broadest range of global financial solutions. As a combined organization, we will bring the most modern solutions targeted at the highest growth markets. The long-term value we will create for clients and for shareholders will set the bar in our industry and will create a range of new career opportunities for our employees. I have never been more excited about the future of FIS.”
Charles Drucker, executive chairman, and chief executive officer, Worldpay, said: “At Worldpay, our focus has always been on delivering more value to our clients and partners and making decisions that achieve our growth and performance objectives. Combining with FIS helps us accelerate the achievement of that, now benefitting from new scale and capabilities that will truly differentiate the company globally”. Adding further Drucker said, “We are proud to become part of one of the financial services industry’s most respected and consistently performing companies, and I am excited about the new opportunities this brings both for the business and our colleagues worldwide.”