WebPayments giant Fidelity National Information Services said Monday it plans to spin off its merchant business, essentially undoing its $43 billion acquisition of Worldpay in 2024. FIS (ticker: FIS ... WebFeb 13, 2024 · FIS announces plans to spin off its Merchant Solutions business. FIS says uncoupling its merchant business, which mainly consists of payments software arm Worldpay, will give the separate companies “greater strategic flexibility and operational focus”. The firm adds both companies will maintain a “strong commercial relationship”.
Worldpay and FIS: the ‘original sin’ that tore up a $43bn …
WebFeb 25, 2024 · The US financial software and services fintech group Fidelity National Information Services (FIS), is spinning-off Worldpay, the merchant payments business it acquired for $43 billion just four years ago. The core banking solutions provider FIS entered the merchant payments by acquiring Worldpay in 2024. The years 2024 and 2024, it … WebFeb 13, 2024 · FIS said in the statement it planned to spin off Worldpay in the next 12 months into a separate company that will be owned by its shareholders on a tax-free basis, confirming a Reuters report ... first tech savings account
FIS to spin off merchant business - finextra.com
WebFeb 14, 2024 · How we got here: FIS acquired Worldpay for $43 billion in 2024—one of several multibillion-dollar acquisitions that year, including Fiserv’s First Data purchase … WebFeb 13, 2024 · 13 February 2024. 2. 4. 0. FIS has confirmed plans to pursue a tax-free spin-off of its Merchant Solutions business in a bid to unlock shareholder value. New FIS chief executive Stephanie Ferris ... WebFeb 13, 2024 · American fintech firm Fidelity National Information Services (FIS) is planning to spin off its merchant services business, Reuters has reported citing people privy to the development. The majority of FIS’s merchant business is made up of Worldpay, which it acquired in 2024 for $43bn. As part of the latest move, FIS aims to carry out a tax ... first tech savings rates