FIS Announces a $43bn Acquisition of Card Acquiring Giant Worldpay Inc.

18th March 2019
Contributor:
Callum Godwin
Callum Godwin

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

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