EU Gives Green Light to FIS, Worldpay Merger

The tech firm will pay $35 million for the payments company

European authorities have given the multi-billion dollar deal that will see payments giant Worldpay being taken over by Fidelity National Information Services (FIS) the go-ahead.

According to Reuters, anti-trust regulators in the European Union, who had to give their approval to the deal before it could go ahead, have given the green light for FIS to continue with the deal.

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It will result in a gigantic merger, costing the American technology and financial services company approximately $35 million.

Shares in both FIS and Worldpay rose after Reuters published their report

Not the first time

News of the deal between the two firms was first announced in March of this year. It is the latest in several deals in what is a crowded payments industry.

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Last month, Israeli firm Safecharge, which was founded in 2006 and focuses largely on online payments, was acquired by Canadian payment processor Nuvei for $889 million.

The deal with Worldpay will see FIS expanding into the card payments sector.

Based in London, the firm was spun off from the Royal Bank of Scotland in 2010 after the financial crisis forced the bank to sell off some of its assets.

In 2017, Vantiv – an American technology and payments company – announced that it would acquire Worldpay for $10.4 billion. That deal was eventually completed in January of the following year.

Representatives of the payments firm will be speaking at the Barcelona Trading Conference in just over ten days. So if you haven’t got your free ticket yet, now is the time to go get it.

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