US financial technology company FIS tabled a deal to acquire UK-based payment processor Worldpay in a deal worth $43 billion.
Following the completion of the cash and stock deal, which is subject to regulatory approval, FIS stakeholders would own 53 per cent of the combined company with the remainder owned by Worldpay shareholders.
FIS provides software and payment processing products for the financial services sector, while Worldpay specialises in online and point of sale transaction technology, including terminals enabling mobile payments.
The company will operate under the FIS brand, led by Gary Norcross, its current chairman, president and CEO.
Worldpay executive chairman and CEO Charles Drucker will become executive vice chairman of the FIS board.
In a statement, the companies said: “Organisations of all types and sizes are looking for new ways to create more meaningful and frictionless experiences and grow their share of wallet through digital channels.”
“The combination of FIS and Worldpay, two companies that are leading their respective markets in modernisation investments, provides clients of both organisations access to a wider portfolio of digital assets to accelerate their revenue growth, streamline their operations and create a better engagement with their customers,” they added.Subscribe to our daily newsletter Back