Fidelity National Information Services Inc (FIS) agreed to buy Worldpay for abou...
- Fidelity National Information Services Inc agreed to buy Worldpay for about $35 billion on Monday, with the U.S. financial services provider striking the biggest deal to date in the fast-growing electronic payments industry.
Growth in payment systems has kept deals rolling even as merger moves in other sectors have stalled on concerns about trade tensions and a global economic slowdown. “Vantiv had yet to realise all the synergies from the Worldpay merger but FIS’s offer was too good to be refused,” a source close to the deal said.
“FIS should accelerate its revenue growth, significantly expand its position in the merchant acquiring space and generate many synergies,” Worldpay shareholder Michael Schaefer, portfolio manager at Union Investment, said.Worldpay shareholders will receive 0.9287 FIS shares and $11 in cash for each share held, valuing the company at $112.12 per share, a premium of about 14 percent on its Friday close.
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