Payment Power Players Combine In $21.5 Billion Deal
Global Payments, an international provider of payment technology and software solutions, will merge with payments provider TSYS in an all-stock merger of equals valued at $21.5 billion. The combined company, to be called Global Payments, will provide payments and software solutions to approximately 3.5 million predominantly small- and mid-sized merchants and 1,300+ financial institutions across more than 100 countries.
The merger will allow TSYS to expand Global Payments’ e-Commerce and omnichannel solutions presence in the U.S., and provide further opportunities for multinational omnichannel market share gains. Additionally, Global Payments will have exposure to some of the fastest-growing digital payments trends through the TSYS issuer and consumer solutions businesses.
Upon closing, Global Payments shareholders will own 52% of the combined company and TSYS shareholders will own 48% on a fully diluted basis. The combined company will process more than 50 billion transactions annually in 38 countries physically and more than 100 countries virtually, generating expected pro forma adjusted net revenues plus network fees of approximately $8.6 billion.
Current Global Payments CEO Jeff Sloan will take the same position with the newly combined company, while M. Troy Woods, Chairman, President and CEO of TSYS, will become Chairman of the Board of Directors.