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Global Payments and Total System Services Merged

Global Payments and Total System Services Merged

Published by InvestorGreg Editorial Team

May 29th, 2019

Global Payments and Total Systems Services, US payment services, concluded a merger agreement. It is planned to close the deal in the fourth quarter of 2019.

Global Payments will pay $21.5 billion in shares, and as a result, its shareholders will receive 52% of the joint-stock capital of the merged company, and Total Systems shareholders will receive 48% of it. The Board of Directors will include 12 people (by 6 from each of the companies), and it will be headed by CEO of Global Payments, Jeffrey S. Sloan. The total amount of employees in the merged company will be 24 thousand people, and the total revenue will be $8 billion a year.

Global Payments is engaged in acquiring providing retailers with tools to accept payment cards and other payment options. And Total System is primarily engaged in providing payment card services for banks – this refers to a whole range of services, from card authorization to detecting fraud and counting bonuses and discounts on bank cards, and the service is also engaged in processing card payments.

Two large transactions took place in the payment market in 2019. In March, Fidelity National Information Services (FIS), the American fintech company, announced a merger with Worldpay, a British payment system that is engaged in online payments for online stores.

In January, it became known about the merger of Fiserv and First Data. The first company supplies technical equipment (including electronic payments) to banks and financial companies, the second one supplies it to retailers. The deal amounted to $22 billion, in addition, Fiserv announced that First Data will pay off debts – in total, the company will pay $39 billion, Finserv will receive 57% of the joint-stock capital of the merged company.

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