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FIS acquires Worldpay Inc. to improve global technology position

Author : Pankaj Singh | Published Date : 2019-08-02 

Apparently, some former executives of Worldpay will be hired for key leadership roles at FIS.

FIS has reportedly announced that it has closed acquisition of payments firm Worldpay, Inc. to enhance its global technology position serving banks, capital markets, and merchants. The combined company has been reported to have more than 55,000 employees and over $12 billion in pro forma revenue.

Gary Norcross, Chairman, President and CEO, FIS, reportedly stated that the acquisition is motivating for FIS and Worldpay, and for the industry as a whole. The transformative combination will significantly enhance the scale, portfolio and global footprint of FIS to help clients capitalize on growth opportunities at a time of rapid marketplace change, he further added.

Norcross also noted that the company would like to welcome Worldpay clients, investors, and employees to the FIS family as they all work together to offer the benefits to businesses and communities across the world. FIS is optimistic about the future of the joint venture company and the innovations and advancements it can bring to develop the way the world banks, invests and pays, he further noted.

Apparently, some former executives of Worldpay will be hired for key leadership roles at FIS. Stephanie Ferris who is Former Chief Financial Officer at Worldpay, will join FIS as Enterprise-wide Chief Operating Officer. Mark Heimbouch, Chief Operating Officer and Former President at Worldpay, will join FIS as Merchant Solutions Division President. Charles Drucker, Chief Executive Officer and Former Executive Chairman at Worldpay, will join the board of directors of FIS as Vice Chairman. Also, the key Worldpay leaders will continue with the company, cited reliable sources.

As per trusted sources, the global payments industry has been advancing at an augmented speed and it is important for large providers like FIS to stay ahead. The combination of Worldpay and FIS will enhance overall purchasing and payment offerings of FIS, placing the company to deliver best-in-class payments, enterprise banking, global e-commerce, and capital market competences to financial institutions and businesses worldwide.

Source credit: https://www.pymnts.com/news/partnerships-acquisitions/2019/fis-closes-acquisition-of-worldpay/

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

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