Fidelity National Information Services Inc. said Thursday it is accelerating its plan to split into two companies with an agreement to sell a majority stake...
Fidelity National Information Services Inc. FIS said Thursday it is accelerating its plan to split into two companies with an agreement to sell a majority stake in its Worldpay Merchant Solutions business to private-equity funds managed by
in a deal that values Worldpay at $18.5 billion. FIS previously announced plans to spin off its merchant business, which largely consists of Worldpay, into a separate business, a move that would walk back the company’s merger with Worldpay that was announced in early 2019. On Thursday, it said the deal now agreed will give it $11.7 billion in proceeds and allow it to retain a... Fidelity National Information Services Inc.
in a deal that values Worldpay at $18.5 billion. FIS previously announced plans to spin off its merchant business, which largely consists of Worldpay, into a separate business, a move that would walk back the company’s merger with Worldpay that was announced in early 2019. On Thursday, it said the deal now agreed will give it $11.7 billion in proceeds and allow it to retain a 45% stake in Worldpay.
has committed to investing up to $1.25 billion in additional growth capital to accelerate Worldpay’s growth strategy. The deal is expected to close by the first quarter of 2024 and Charles Drucker will remain CEO of Worldpay. “This attractive upfront valuation equates to a 9.
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