worldpay sale private equity news us

Worldpay in Major Buyou, Let’s Hope they don’t Forget Their Pin…

FIS Agrees to Sell Majority Stake in Worldpay to Buyout Group for Up to $18.5 Billion

Fidelity National Information Services (FIS) has agreed to sell a majority stake in its Worldpay merchant payments arm to private equity firm GTCR, valuing the business at up to $18.5 billion.

The deal, which is expected to close in the first quarter of 2024, will see GTCR acquire a 55% stake in Worldpay for $11.7 billion in cash. FIS will retain a 45% stake in the business and will continue to provide certain services to Worldpay under a long-term agreement.

The sale comes as FIS is looking to streamline its operations and focus on its core businesses. The company acquired Worldpay in 2019 for $30 billion, but the deal has been a major disappointment for shareholders. Worldpay’s revenue has declined in recent quarters as merchants have shifted to online payments.

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GTCR is a private equity firm that specializes in investments in the financial services sector. The firm has a long history of investing in and growing businesses, and it is confident that it can turn around Worldpay’s performance.

“We are excited to partner with the Worldpay team to support their growth and innovation agenda,” said Collin Roche, co-chief executive and managing director at GTCR. “We believe Worldpay is well-positioned to capitalize on the continued shift to digital payments and the growth of e-commerce.”

The sale of Worldpay is a major setback for FIS, but it could help the company to improve its financial performance and focus on its core businesses. GTCR is a well-respected private equity firm with a track record of success, and it is likely to be able to turn around Worldpay’s performance.

The deal is also a sign of the growing consolidation in the payments industry. In recent years, there have been a number of major mergers and acquisitions in the sector, as companies look to scale up their operations and compete with larger rivals.


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