FIS has signed a definitive agreement with US-based private equity firm GTCR to sell a majority stake in its Worldpay merchant business.
GTCR will acquire 55% of Worldpay, with FIS set to receive $11.7 billion in upfront net proceeds. FIS will retain a non-controlling 45% ownership interest in the firm, with the company’s board of directors unanimously approving the transaction.
The deal values Worldpay at $18.5 billion, including $1 billion of consideration contingent on the returns realised by GTCR exceeding certain thresholds.
