Fidelity National Information Services Inc. announces the largest deal made in the history of payments industry i.e. the acquisition of Worldpay for thirty-five billion dollars.
Financial firms are still investing in financial payments and software technologies to fight against the latest disorderly methods of paying merchants. Firms have noticed that a huge number of online sales significantly benefit the payment industry.
Chairman, President, and CEO of FIS, Mr. Gary Norcross said: “Scale matters in our rapidly changing industry. Upon closing later this year, our two powerhouse organizations will combine forces to offer a customer-driven combination of scale, global presence and the industry’s broadest range of global financial solutions. As a combined organization, we will bring the most modern solutions targeted at the highest growth markets. The long-term value we will create for clients and for shareholders will set the bar in our industry and will create a range of new career opportunities for our employees. I have never been more excited about the future of FIS.”
Worldpay shareholders will be receiving 0.9287 FIS shares and 11 dollars in cash per every share held, enhancing the company’s value at 112.12 dollars per share.
CEO and Executive Chairman at Worldpay, Mr. Charles Drucker said: “At Worldpay, our focus has always been on delivering more value to our clients and partners and making decisions that achieve our growth and performance objectives. Combining with FIS helps us accelerate the achievement of that, now benefitting from new scale and capabilities that will truly differentiate the company globally. We are proud to become part of one of the financial services industry’s most respected and consistently performing companies, and I am excited about the new opportunities this brings both for the business and our colleagues worldwide.”