With this move, the financial service provider aims to allocate funds for acquisitions, while also allowing Worldpay to accelerate its technology development.
(Isstories Editorial):- Surrey, United Kingdom Aug 10, 2023 (Issuewire.com) – FIS, a financial services provider, has inked a deal to transfer a significant share of its Worldpay Merchant Business solutions division to GTCR, an American private equity firm. This transaction, valued at $18.5 billion, marks a transformative agreement. As part of the deal, FIS will retain a 45% ownership stake in Worldpay, with GTCR becoming the new majority owner, reports FinTech Magazine.
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The article calls this agreement an “expected” move, as FIS had previously announced its plan to spin off Worldpay in February 2023….
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