Fidelity National to buy payment processor Worldpay for US$35b
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Bengaluru
US fintech group Fidelity National Information Services Inc (FIS) has agreed to buy payment processor Worldpay for about US$35 billion, as it looks to bulk up in a lucrative yet rapidly changing industry.
The deal comes two years after US credit card processing company Vantiv merged with Worldpay in a US$10.63 billion deal. Including debt, Fidelity National's offer values Worldpay at about US$43 billion, the companies said on Monday. Worldpay shareholders will receive 0.9287 FIS shares and US$11 in cash for each share held, valuing the company at US$112.12 per share - a premium of about 14 per cent based on the stocks' closing last Friday, according to Reuters calculations.
"Scale matters in our rapidly changing industry," FIS chief executive officer Gary Norcross said in the statement.
The combined company will retain the name FIS and will be headquartered in Jacksonville, Florida, the companies added. Upon closing, FIS shareholders will own about 53 per cent and Worldpay shareholders will own about 47 per cent of the combined company. REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
