FIS, a global financial services technology company, has announced that it has entered into an agreement to sell a majority stake in its Worldpay Merchant Solutions business to private equity funds managed by GTCR in a transaction that valued Worldpay at $18.5 billion.

The agreement will allow for more centralized management and simplified operations for FIS and Worldpay. Additionally, the initial proceeds provide immediate flexibility in capital allocation.

“This transaction allows FIS to monetise our Merchant Solutions business at an attractive valuation partially and provides certainty for all stakeholders,”

“It also allows us to simplify and drive greater focus on delivering innovative, next-generation financial technology and software solutions. At the same time, Worldpay will become a privately held company and benefit from the resources and expertise of GTCR.”

Stephanie Ferris, CEO and President FIS.

As part of the deal, GTCR has committed to investing additional capital in Worldpay of up to $1.25 billion to pursue inorganic growth opportunities. FIS will use the proceeds of the sale to pay off debt and return additional capital to shareholders through an existing share buyback authorization and for general corporate purposes while maintaining a credit-grade rating. strong investment.

“We are thrilled to be working with Charles and the Worldpay leadership team to build on the company’s culture of innovation, invest in new capabilities and advance its leadership position across channels and geographies. As a firm, we have a long history of investing in the payments sector, and that experience provides us with tremendous confidence in the opportunity for sustained, long-term growth at Worldpay.”

Collin Roche, Co-CEO and Managing Director at GTCR.

FIS will remain a provider of financial technology solutions to financial institutions, capital markets firms, businesses and developers worldwide.