Fidelity National Information Services Abandons Worldpay Spin [Forbes]
Fidelity National Information Services, Inc. (FIS)
Last fidelity national information services, inc. earnings: 2/13 07:00 am
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Source: Forbes
On February 1, 2024, Fidelity National Information Services (NYSE: FIS, $73.46, Market Capitalization: $42.3 billion) disclosed the completion of sale of a 55.0% ownership stake in the Worldpay WP Merchant Solution business to private equity player GTCR for total consideration of $12.0 billion. This move marks a withdrawal from the initial strategy outlined during FIS's earnings call on February 13, 2023, wherein the company had proposed a tax-free spin-off of the Worldpay. However, a strategic pivot occurred on July 6, 2023, when FIS expedited its separation plan, aiming to establish two distinct global entities endowed with enhanced strategic adaptability. Consequently, FIS entered into an agreement with GTCR, a prominent private equity firm, to offload a majority interest in Worldpay. The transaction valued Worldpay business at an enterprise value of $18.5 billion inclusive of $1.0 billion in additional consideration that is contingent on the returns realized by GTCR exceeding c
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News
- FIS Announces Quarterly DividendBusiness Wire
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- FIS to Report First Quarter 2024 Results on May 6, 2024; Will Host Investor Conference on May 7, 2024Business Wire
- Fidelity National Information Services (FIS) Expected to Beat Earnings Estimates: Can the Stock Move Higher? [Yahoo! Finance]Yahoo! Finance
- FIS Named as One of the Most Trustworthy Companies in America for Second Consecutive YearBusiness Wire
FIS
Earnings
- 2/26/24 - Beat
FIS
Sec Filings
- 4/26/24 - Form ARS
- 4/26/24 - Form DEF
- 4/26/24 - Form DEFA14A
- FIS's page on the SEC website