This fusion between the giants of the payment, announced by The Forum in early July to become reality. The group payment services u.s. Vantiv is going to buy the british Worldpay for 8 billion pounds (10.3 billion euros), have formally announced Wednesday the two groups. Vantiv and Worldpay have agreed on the financial terms of the transaction, after it announced an agreement in principle on the merger at the beginning of the month of July. The new group, which will take the name of Worldpay, will have its headquarters in the United States, Cincinnati (Ohio), while London will host its international headquarters.
| Read : Fusion 27 billion between the giants of the payment
22.2 billion pounds of funding after the merger
The two companies explain that their marriage is intended to create a heavy weight in the world in the sector of the payment which is evolving rapidly in the digital era. This new heavy weight world will have the ability to make payments to 1.500 billion to $ 40 billion of transactions each year in 146 countries and 126 currencies.
The new group will have a valuation of about 22.2 billion pounds and will be held to 43% by the shareholders of Worldpay and 57% of Vantiv. The shareholders of Worldpay will receive 55 pence per share, and shares of Vantiv, which adds value to the uk to 9.3 billion pounds.
“More payment solutions to businesses, large or small” “This is a powerful combination that makes sense strategically for both groups. It unites the two activities are highly complementary and will allow us to do better together rather than apart,” says Charles Drucker, CEO of Vantiv, quoted in the press release.
For his part, the director-general of Worldpay, Philip Jansen, has observed that “the growth of online commerce and the way consumers behave to make the sector more complex on a global scale”.
The merger is thus intended “to offer more payments solutions to businesses, large or small, global or local, in order to meet the growing demand of consumers,” according to him.
The world of payment in the boil
With the arrival of a host of actors, from Internet and mobile, the world of payment is changing. More recently, the Thursday, July 20, two weeks after the announcement of the agreement in principle between Vantiv and Worldpay, the French Ingenico, a global leader card readers, announced the acquisition of the Swedish company Bambora to the investment fund Nordic Capital for a total amount of 1.5 billion euros.
| Read : Payment : the French Ingenico offers the Fintech Bambora to 1.5 billion euros
(With AFP)
