FIS Buys Worldpay For $35 Billion As Payment Consolidation Heats Up [Forbes]
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Source: Forbes
FIS Buys Worldpay For $35 Billion As Payment Consolidation Heats Up Merger of two payment companies. Getty With the payments industry looking to cut costs and expand their offerings, consolidation is inevitable. Fidelity National Information Services, known as FIS, is the latest evidence of that, announcing a $35 billion deal to acquire Worldpay earlier Monday. The cash and stock deal values UK-based Worldpay at $43 billion, including the assumption of debt which FIS said it plans to refinance. Under the terms of the deal, Worldpay shareholders get 0.9287 shares and $11.00 in cash for each share of Worldpay. FIS shareholders will own about 53% of the combined company while Worldpay shareholders will have a roughly 47% stake. Once the deal is closed, the combined company will offer a bevy of services for businesses and financial institutions including enterprise banking, payments, capital markets, and eCommerce services. Worldpay processes more than 40 billion transactions each year an
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