The financial services technology company FIS has agreed to buy Worldpay in a deal that is valued at $43 billion and allows
The merger price is based on a $34 billion bid plus $9 billion of Worldpay's debt.
The deal builds on a number of previous acquisitions by FIS and its rivals. The growth of e-commerce and digital transactions has pressured broad-based financial IT companies like FIS and Fiserv to broaden processing technology.
Worldpay, formerly
FIS will also be able to bolster its e-commerce and payment processing, while Worldpay will expand geographically.
Worldpay processes more than 40 billion transactions annually, supporting more than 300 payment types across more than 120 currencies. “Scale matters in our rapidly changing industry,” Gary Norcross, the chairman, president and chief executive of FIS, said in a press release.