In a move that enhances its global technology position serving merchants, banks and capital markets, FIS closed its acquisition of global payments firm Worldpay, Inc.
The combined company will have over 55,000 employees and more than $12 billion in pro forma revenue, according to an announcement.
FIS Chairman, President and CEO Gary Norcross said in the announcement, “This is an exciting day for FIS and Worldpay, and for the industry as a whole. This transformative combination significantly enhances the scale, portfolio and global footprint of FIS to help our clients capitalize on growth opportunities at a time of rapid marketplace change.”
Norcross added, “I would like to extend a warm welcome to Worldpay employees, clients and investors to the FIS family as we work together to bring the benefits to businesses and communities around the world. I couldn’t be more optimistic about the future of this company and the innovations and advancements we can bring to advance the way the world pays, banks and invests.”
Several former Worldpay executives will take on key leadership roles at FIS. Mark Heimbouch, former president and chief operating officer at Worldpay, is joining FIS as merchant solutions division president. And Stephanie Ferris, former chief financial officer at Worldpay, is joining FIS as enterprise-wide chief operating officer. Charles Drucker, former executive chairman and chief executive officer at Worldpay, is joining the board of directors of FIS as vice chairman. The company also said key Worldpay leaders will stay with the firm.
Rivka Gewirtz Little, research director, global payment strategies at IDC Financial Insights, said in the announcement, “The global payments industry is moving at an accelerated speed and it is vital that large providers such as FIS stay ahead. The combination of FIS and Worldpay enhances FIS’ overall acquiring and payment offerings, positioning the company to offer best-in-class enterprise banking, payments, capital markets and global eCommerce capabilities to financial institutions and businesses worldwide.”