FIS $35 billion acquisition of Worldpay

Overview:

• Florida based international payments technology developer, FIS, has reached a deal to acquire competitor Worldpay for $34 billion in cash and stock. 
• The deal is the largest agreed to date in the payments industry. 
• If concluded successfully, the agreed deal will see Worldpay shareholders receive 0.9287 FIS shares and $11.00 in cash for each share of Worldpay they hold, and FIS and Worldpay shareholders own around 53% and 47% respectively in the combined business.
• If closed, the transaction will be the second time Worldpay, formerly the UK's largest payments services company, has been acquired. Vantiv, another US company, bought the business and assumed its name in 2018. 
• Centerview Partners and Goldman Sachs & Co were financial advisors to FIS.
• Credit Suisse acted as financial advisor to Worldpay.

Ben Naylor - Editor