U.S. fintech group Fidelity National Information Services Inc (FIS) has agreed t...
- U.S. fintech group Fidelity National Information Services Inc has agreed to buy payment processor Worldpay for about $35 billion, in the biggest deal to date in the booming payments industry.
The deal is the latest in a wave of consolidation in the financial software and payments technology sectors as firms bulk up to compete with newcomers seeking to disrupt the way merchants are paid. The FIS offer for Worldpay, which was bought by U.S. credit card processing company Vantiv in 2017 for $10.63 billion, values Worldpay at about $43 billion, when debt is included, the companies said on Monday.“Scale matters in our rapidly changing industry,” FIS Chief Executive Officer Gary Norcross said in a statement.
The company listed on the London Stock Exchange in 2015, with an initial public offering valuing it at 4.8 billion pounds, the biggest flotation in London that year.
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