FIS announced today that it is buying leading payments processor Worldpay in a $35 billion deal, one of the largest acquisitions ever in the payments space; the deal would create a global giant in payments and back-office financial services since Worldpay is the world’s largest merchant payments processor; the deal values Worldpay’s shares at $112.12 each, representing a premium of almost 14% to Worldpay’s closing stock price on Friday; the combined company expects to generate $500 million in additional revenue and save $400 million in costs. Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.