Monday 18 March 2019 8:14 am

US-based FIS buys Worldpay at $43bn valuation, creating payments giant

British payment processor Worldpay was snapped up this morning by US-based Fidelity National Information Services (FIS) in a deal which values the firm at $43bn (£32bn).

Excluding the target’s debt, the valuation comes to $34.83bn, the companies said.

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It creates a company which had a combined revenue of $12.3bn last year.

“Scale matters in our rapidly changing industry,” said FIS chief executive Gary Norcross.

He added: “As a combined organisation, 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.”

After the deal closes FIS will own around 53 per cent of the Worldpay, paying $11 and 0.93 FIS shares for each share it acquires. Shares in Worldpay rose around 9.4 per cent this morning.

Worldpay processes around 40bn transactions per year, across 300 payment types and 120 currencies.

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Worldpay chief executive Charles Drucker said: “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 benefiting from new scale and capabilities that will truly differentiate the company globally.”