FIS and Worldpay partnership likely to offer enterprise banking for world businesses

The US fintech firm Fidelity National Information Services Inc (FIS) and e-commerce and payments company, Worldpay Monday said both have entered into a definitive merger agreement. Post merger, the combined entity company will be positioned to offer enterprise banking, payments, capital markets and global e-commerce capabilities empowering financial institutions and businesses worldwide, FIS said in a release.

With the completion of the merger, Indian operations of both FIS and Worldpay may see business synergies, it said. At the closing, Worldpay shareholders will be entitled to receive 0.9287 FIS shares and USD 11 in cash for each share of Worldpay.

FIS shareholders will own approximately 53 per cent and Worldpay shareholders will own approximately 47 per cent of the combined company. "The combination of stock and cash values Worldpay at an enterprise value of approximately USD 43 billion, including the assumption of Worldpay debt, which FIS expects to refinance," the release said.

The merger will expand FIS capabilities by enhancing its acquiring and payment offerings. It will also increase Worldpays distribution footprint, accelerating its entry into new geographies.