Worldpay to be acquired by US company in $43bn power play
Cambridge headquartered global payments powerhouse Worldpay is being sold to US business Fidelity National Information Services Inc in a deal that stacks up to $43 billion.
The Florida-based acquirer is shelling out around $34bn in cash and stock in the largest deal ever recorded in the sector but will also assume Worldpay’s debt, taking the transaction value to $43bn.
Based at Cambridge Science Park with a global mothership in Ohio, Worldpay is driving a payments industry where revenue is projected to rise to $2.4 trillion by 2027.
Worldpay was bought by US credit card processing company Vantiv in 2017 for $10.63 bn. Royal Bank of Scotland spun out Worldpay around a decade ago as part of its state-backed bailout. It was bought by Advent International and Bain Capital for a reported £2bn before the sale to Vantiv.
Worldpay CEO Charles Drucker will become the combined firm’s executive vice-chairman.
The Cambridge office supports the company’s eCommerce business which includes SME sales, eCommerce operations, delivery, technology and product development. It accommodates 300 people and the company continues to hire for a number of positions in Cambridge.
• Image courtesy – Worldpay