Shares of Worldpay Inc. surged in midday trading Monday on news that the Symmes Township-based payment-processing company is being acquired for $35 billion.…
Shares of Worldpay Inc. surged in midday trading Monday on news that the Symmes Township-based payment-processing company is being acquired for $35 billion.
Jacksonville, Fla.-based Fidelity National Information Services announced Monday that it has agreed to buy Worldpay in a cash-and-stock deal that would create a payment-processing giant with operations across the globe.
According to a press release, the combined company would compete in a wide range of payment businesses, including e-commerce, faster payments and core processing, generating annual revenue of about $12.3 billion.
That would create another new Fortune 500 company with ties to the Cincinnati area.
Under terms of the deal, Fidelity National would own about 53 percent of the company, while Worldpay shareholders would control 47 percent.
The combined company’s headquarters would move to Jacksonville.
Worldpay officials declined to comment on the whether the acquisition would result in job cuts for its more than 8,000 employees or result in consolidation of its Ohio operations in Florida.
