Global Payments has agreed to acquire Worldpay from private equity firm GTCR and fintech company FIS for a total value of $24.25bn and divest its Issuer Solutions business to FIS for $13.5bn.
The acquisition will result in a combined entity with the capacity to serve over six million customers, enabling nearly 94 billion transactions and managing around $3.7tn in transaction volume across more than 175 countries.
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Completion of the deals is anticipated in the first half of 2026, contingent on standard closing conditions including regulatory approvals.
The move is intended to extend Global Payments’ reach across various geographies, vertical markets, and the full spectrum of merchants, from small and medium-sized businesses to large enterprises.
The divestiture and the acquisition of Worldpay are planned to occur simultaneously, with the sale transaction involving cash and FIS’ stake in Worldpay.
The remaining stake in Worldpay will be acquired from GTCR using a mix of cash and Global Payments shares.
GTCR will receive Global Payments shares at a fixed price of $97, representing an approximate 15% ownership post-transaction.
The combined company is projected to have a pro forma annual adjusted net revenue of about $12.5bn and an adjusted EBITDA of $6.5bn by 2025.
Global Payments will finance the acquisition of Worldpay through cash from the sale of the Issuer Solutions business, existing cash reserves, and new debt financing.
It has arranged committed bridge financing and intends to issue $7.7bn in debt to facilitate the transaction and refinance Worldpay’s existing debt.
FIS had acquired Worldpay in 2019, valuing the business at around $43bn.
Last year, FIS divested a majority stake in the payments firm to private equity funds managed by GTCR, while retaining a 45% non-controlling equity stake.
Global Payments CEO Cameron Bready said: “Today marks a defining day for Global Payments and a pivotal milestone in our journey to become the worldwide partner of choice for commerce solutions. The acquisition of Worldpay and divestiture of Issuer Solutions further sharpen our strategic focus and simplify Global Payments as a pure play merchant solutions business with significantly expanded capabilities, extensive scale, greater market access and an enhanced financial profile.”
As part of the transaction, Global Payments and FIS will form a commercial partnership aimed at delivering solutions such as banking, treasury management, embedded commerce, issuer processing, risk and fraud management, as well as merchant solutions.
Wells Fargo was financial advisor to Worldpay, while Morgan Stanley provided financial advice to GTCR.
Kirkland & Ellis offered legal counsel, with Paul Hastings offering regulatory legal advice.
