Digital Transactions
Facing major consolidation among rival processors. Global Payments Inc. and Total System Services Inc. made it official they are merging in an all-stock deal that values TSYS at $21.5 billion and will leave Global with 52% of the combined entity. The acquisition is expected to close in the fourth quarter, pending regulatory and shareholder approvals. The deal is not subject to any financing conditions, the companies say.
The pending merger follows on the heels of two big processing combinations announced just since the first of the year. In March, Fidelity National Information Services Inc. agreed to buy Worldpay Inc. for $43 billion in a deal expected to close in the third quarter. And in January Fiserv Inc. said it would acquire First Data Corp. in a $22-billion deal expected to close in the second half of the year.
