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GTCR Grabs 55% Worldpay Stake; Eye on Acquiring; Sabre Acquires Gift Card Platform
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FIS Makes It Official: It’s Selling a 55% Worldpay Stake to GTCR at an $18.5 Billion Valuation
In a fleeting 10-minute conference call, FIS Inc. announced early Thursday a move to sell a 55% interest in its merchant-processing business, which principally consists of the Worldpay unit it acquired four years ago, to the private-equity firm GTCR. The deal is expected to close by the end of the …
Read More »Is GTCR a Worldpay Buyer? $1 Trillion in Digital Gift Cards; Apple Renews App Store Payments Appeal
FIS Is Reportedly Working to Sell a Majority Stake in Its Merchant Unit to GTCR
FIS Inc. is talking to the private-equity firm GTCR LLC about taking a majority stake in the Jacksonville, Fla.-based company’s merchant-processing business, according to a report late Monday from Reuters. The report indicates the talks are “advanced” and value the stake at between $15 billion and $20 billion. The latest …
Read More »In Yet Another ISV Play, GTCR Buys Sage Payment Solutions for $260 Million
Finally, the rumors can stop. Sage Payment Solutions, the U.S. merchant-services arm of Sage Group plc, has been sold to GTCR LLC, a Chicago-based private-equity firm, for $260 million, GTCR announced Friday. Reports of a possible sale of the company, which counts approximately 100,000 merchants in its portfolio, originally surfaced …
Read More »Private-Equity Player GTCR Swoops in to Snatch Fundtech from S1’s Grasp
In yet another twist in the ongoing corporate drama involving payments-software firms S1 Corp., Fundtech Ltd., and ACI Worldwide Inc., news emerged early on Thursday that Fundtech is spurning S1 in favor of what it views as a better offer from GTCR, a Chicago-based private-equity firm with a history of …
Read More »GTCR Will Keep Its Grip on VeriFone Even After the Proposed IPO
VeriFone Inc. will continue to be controlled by GTCR Golder Rauner LLC, a Chicago-based private equity firm, and its current chief executive, Douglas Bergeron, will continue to be a major shareholder even after the San Jose, Calif.-based point of sale terminal maker completes its proposed initial public offering of stock. …
Read More »Worldline Replaces Its Longtime CEO As the Global Processor’s Shares Plummet
The big French processor Worldline SA announced early Friday longtime chief executive Gilles Grapinet will leave the company effective Sept. 30. The company says the search for a successor will evaluate candidates both inside and outside the company. In the meantime, the board has appointed Marc-Henri Desportes, deputy CEO since …
Read More »How FIS Is Banking on Bank Sales Post Worldpay
FIS Inc. isn’t quite the factor in merchant processing it once was, but the big Jacksonville, Fla.-based processor remains a significant factor in digital payments, specifically for banks, its top management was at pains to stress early Tuesday as the company reported its second-quarter results. “We’re very pleased with our …
Read More »TCH’s ACH Volume up 8% And Other Digital Transactions News briefs from 3/12/24
The Clearing House Payments Co. LLC’s automated clearing house network, EPN, reported volume of more than 19 billion transactions for 2023, up 8%, with a total value of $52.4 trillion. Taulia, which provides technology to manage working capital, said it will incorporate into its Taulia Virtual Cards digital payments technology from Visa …
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