The new company will be headquartered in Jacksonville, Florida, and will retain the name FIS.
Fidelity National Information Services Inc (FIS), a global financial services technology, and Worldpay, Inc., an eCommerce and Payments company, have entered into a definitive merger agreement, the two companies announced this Monday.
The deal, which is worth $43 billion, including debt, is the largest in the international payments sector. It will see the shareholders of Worldpay entitled to receive 0.9287 FIS shares as well as $11.00 in cash for each share of Worldpay.
Once the transaction is closed, FIS shareholders will own about 53 percent of the combined company, while Worldpay shareholders will own approximately 47 percent. When merged, the company will have roughly $12.3 billion pro forma 2018 annual revenue.
According to the statement, the Merger will expand FIS’ capabilities by strengthening its acquiring and payment offerings. For Worldpay, the deal will increase its distribution footprint and accelerate its entry into new geographies.
Combined Company to Retain FIS Name
The new company will be headquartered in Jacksonville, Florida, and will retain the name FIS. Its Board of Directors will be made up of 12 members. From this, seven will come from FIS’ Board of Directors and five will come from Worldpay’s Board of Directors.
Moreover, Gary Norcross, chairman, president and chief executive officer of FIS, will remain in his positions for both companies and Charles Drucker, the executive chairman and chief executive officer at Worldpay, will become the executive vice chairman of the board of directors.
Commenting on the merger, Gary Norcross said: “Scale matters in our rapidly changing industry. Upon closing later this year, our two powerhouse organizations will combine forces to offer a customer-driven combination of scale, global presence and the industry’s broadest range of global financial solutions.
“As a combined organization, we will bring the most modern solutions targeted at the highest growth markets. The long-term value we will create for clients and for shareholders will set the bar in our industry and will create a range of new career opportunities for our employees. I have never been more excited about the future of FIS.”
The Deal is Expected to Close in H2 of 2019
The transaction is subject to regulatory and shareholder approvals, as well as other customary closing conditions. This deal is expected to close in the second half of this year, according to the statement.
“At Worldpay, our focus has always been on delivering more value to our clients and partners and making decisions that achieve our growth and performance objectives. Combining with FIS helps us accelerate the achievement of that, now benefitting from new scale and capabilities that will truly differentiate the company globally,” added Charles Drucker of Worldpay.
“We are proud to become part of one of the financial services industry’s most respected and consistently performing companies, and I am excited about the new opportunities this brings both for the business and our colleagues worldwide.”
Fidelity National Information Services Inc (FIS), a global financial services technology, and Worldpay, Inc., an eCommerce and Payments company, have entered into a definitive merger agreement, the two companies announced this Monday.
The deal, which is worth $43 billion, including debt, is the largest in the international payments sector. It will see the shareholders of Worldpay entitled to receive 0.9287 FIS shares as well as $11.00 in cash for each share of Worldpay.
Once the transaction is closed, FIS shareholders will own about 53 percent of the combined company, while Worldpay shareholders will own approximately 47 percent. When merged, the company will have roughly $12.3 billion pro forma 2018 annual revenue.
According to the statement, the Merger will expand FIS’ capabilities by strengthening its acquiring and payment offerings. For Worldpay, the deal will increase its distribution footprint and accelerate its entry into new geographies.
Combined Company to Retain FIS Name
The new company will be headquartered in Jacksonville, Florida, and will retain the name FIS. Its Board of Directors will be made up of 12 members. From this, seven will come from FIS’ Board of Directors and five will come from Worldpay’s Board of Directors.
Moreover, Gary Norcross, chairman, president and chief executive officer of FIS, will remain in his positions for both companies and Charles Drucker, the executive chairman and chief executive officer at Worldpay, will become the executive vice chairman of the board of directors.
Commenting on the merger, Gary Norcross said: “Scale matters in our rapidly changing industry. Upon closing later this year, our two powerhouse organizations will combine forces to offer a customer-driven combination of scale, global presence and the industry’s broadest range of global financial solutions.
“As a combined organization, we will bring the most modern solutions targeted at the highest growth markets. The long-term value we will create for clients and for shareholders will set the bar in our industry and will create a range of new career opportunities for our employees. I have never been more excited about the future of FIS.”
The Deal is Expected to Close in H2 of 2019
The transaction is subject to regulatory and shareholder approvals, as well as other customary closing conditions. This deal is expected to close in the second half of this year, according to the statement.
“At Worldpay, our focus has always been on delivering more value to our clients and partners and making decisions that achieve our growth and performance objectives. Combining with FIS helps us accelerate the achievement of that, now benefitting from new scale and capabilities that will truly differentiate the company globally,” added Charles Drucker of Worldpay.
“We are proud to become part of one of the financial services industry’s most respected and consistently performing companies, and I am excited about the new opportunities this brings both for the business and our colleagues worldwide.”
From Rupees to Rand: India's UPI Makes a Play for Africa
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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