Global Payments agreed to purchase Worldpay for $24.25 billion from Fidelity National Information Services, or FIS, and GTCR, a private equity firm with a long history of investing in fintech.
After holding Worldpay for about a year, GTCR is selling it, making this a significant exit. For Stephanie Ferris, the CEO of FIS and generally considered the most influential woman in fintech, it is also a significant victory.
The details, which include the exchange of assets between three firms, are very intricate. According to the agreement, Global Payments will pay FIS $13.5 billion to sell its Issuer Solutions division, formerly known as TSYS. Global Payments is purchasing Worldpay from FIS and GTCR in return. Subject to regulatory approval, the transactions are anticipated to close in the first half of 2026.
Shares of FIS surged more than 6% on Thursday after the deal was announced, while Global Payments’ stock fell more than 17%.
“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,” said Cameron Bready, CEO of Global Payments, in a statement.
FIS is one of the world’s largest financial services companies with a $38 billion market capitalization. FIS will receive $6.6 billion for its 45% stake in Worldpay.
Leading merchant acquirer Global Payments stated that the sale of TSYS and its acquisition of Worldpay would take place at the same time. Global Payments will get money and FIS’s share of Worldpay in return for TSYS. Then, for a combination of cash and stock, Global Payments will purchase GTCR’s 55% share in Worldpay. After the transactions are finalised, 15% of Global Payments’ outstanding shares will belong to GTCR. (A little background: TSYS was purchased by Global Payments for $21.5 billion in 2019.)
About a year has passed since GTCR completed the purchase of 55% of Worldpay in February 2024. FIS kept 45%. Worldpay was valued at $18.5 billion in the transaction.
Ferris, who took over as CEO of FIS in January 2023, views the deal as a significant victory.
Dan Dolev, a senior analyst in fintech equity research at Mizuho Securities USA, called Ferris and FIS’s acquisition of Worldpay a “home run.” “It’s a masterstroke of dealmaking. [Ferris is] the art of the deal. It’s not Trump, it’s Stephanie. She should negotiate with China,” Dolev said.
