Payment processing company Worldpay is getting bought by US firm FIS in $43 billion deal

  • The combination of stock and cash values the deal at about $US43 billion including debt.
  • “Scale matters in our rapidly changing industry,” says FIS CEO Gary Norcross.
  • Worldpay, once part of RBS, allows secure card payments online, via card processing machines or by phone.

Worldpay agreed to be bought by Florida firm Fidelity National Information Services, valuing the combined companies at about $US43 billion.

The companies announced the deal on Monday. Worldpay shares surged more than 10% in US premarket trading.

Worldpay, which was once part of RBS, allows secure card payments via online, card processing machines or over the phone.

The combination of stock and cash values the deal at about $US43 billion including debt, the companies said. FIS shareholders will own about 53% and those of Worldpay will own about 47% of the merged firm.

The combined company, which will keep the name FIS and will be headquartered in Jacksonville, Florida, will have about $US12 billion in annual revenue.

“Scale matters in our rapidly changing industry,” Gary Norcross, chairman, president and CEO of FIS, said in a statement. “Upon closing later this year, our two powerhouse organisations will combine forces to offer a customer-driven combination of scale, global presence and the industry’s broadest range of global financial solutions.”

FIS said it expects to refinance Worldpay’s debt.

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