FIS Announces a $43bn Acquisition of Card Acquiring Giant Worldpay Inc.
18th March 2019Contributor:
Callum Godwin
Related Tags
US issuer processor Fidelity National Information Services (FIS) has announced a $43 billion acquisition of global merchant acquiring giant Worldpay Inc.
FIS is an international provider of payment processing software and other financial services technology, who currently serve clients in over 130 countries and have operations in 45 countries including Germany, Spain and Hong Kong. The US issuer processor has announced that they are buying Worldpay (WP) who are the largest merchant acquirer in the world with 40 billion transactions processed in 2018.
The deal will have annual revenue of more than $12 billion. The purchase price includes a $35 billion cash consideration, as well as covering $8 billion of Worldpay’s debt.
Worldpay Inc was formed in January 2018 as the result of a merger between UK-based acquirer Worldpay and US-based acquirer Vantiv. At the time, the $10 billion deal created the world’s largest merchant acquirer.
Consolidation in the payments and bank core processing business threatens to dramatically alter the landscape in the US and everywhere card payments are made today. The dust had barely settled on the deal between Fiserv and First Data when FIS raised the stakes with its offer to acquire WorldPay. Speculation as to who’s next is rampant with the focus not only on the next largest players in bank core processing as well as card processors, but also the prominent payments Schemes.
Mark Horwedel, Strategic Consultant - CMSPI
You Might Also Be Interested In These...
CMSPI provides transparency to the complexities associated with processing payments.
Read More >Many merchants are overpaying by substantial six and seven-figure sums every year, we detail the importance of auditing your invoices.
Read More >Global Payments has announced its intention to acquire TSYS in a $21.5 billion all-stock deal.
Read More >The four key questions about holdbacks airlines need to ask now.
Read More >