FIS (NYSE: FIS) recently declared the closing of its procurement of global payments leader Worldpay, Inc., producing a global leader in technology and solutions for merchants, financial institution, and capital markets.
The merged company will have over USD12 billion in pro forma revenue and more than 55,000 workers. With a best-in-class portfolio of answers for payments, financial institutions, and capital markets, FIS is positioned to stimulate its growth and advance the way the world pays, banks, and funds.
“This is an interesting day for FIS and Worldpay, and the industry as a whole,” stated FIS Chairman, President, and CEO Gary Norcross. “This transformative succession significantly enhances the scale, portfolio, and global footprint of FIS to support our clients capitalize on growth opportunities at a moment of the rapid marketplace change.
“I would like to increase a warm welcome to Worldpay workers, clients and investors to the FIS family as we strive together to bring the benefits to businesses and societies around the world,” Norcross announced. “I couldn’t be more confident about the future of this company and the innovations and progress we can bring to advance the method by which the world finances, banks, and invests.”
“The global payments business is moving at an accelerated rate, and it is vital that comprehensive providers such as FIS stay forward,” answered Rivka Gewirtz Little, research director, Global Payment Strategies at IDC Financial Insights. “The aggregate of FIS and Worldpay intensifies FIS’ overall acquiring and payment atonement, positioning the company to offer best-in-class enterprise funding, payments, capital markets, and global eCommerce abilities to financial institutions and businesses worldwide.”
Numerous former Worldpay executives will consider key leadership positions at FIS. Former president and COO at Worldpay, Mark Heimbouch, is coming in as the president of FIS’ Merchant Solutions division. A former chief financial officer at Worldpay, Stephanie Ferris, is joining FIS as its enterprise-wide COO. Former executive chairman, and CEO at Worldpay, Charles Drucker, is joining the FIS board of directors as vice-chairman. Key administrators from Worldpay will also persist with the company.