PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

GTCR eyes majority stake in $15-20bn payment processor FIS

Private equity firm GTCR is closing in on the acquisition of a majority stake in the merchant business of payment processing company Fidelity National Information Services Inc in a leveraged deal valuing the division at between $15bn and $20bn, according to a report by Reuters.

Private equity firm GTCR is closing in on the acquisition of a majority stake in the merchant business of payment processing company Fidelity National Information Services (FIS) in a leveraged deal valuing the division at between $15bn and $20bn, according to a report by Reuters.

The report cites unnamed sources familiar with the matter as confirming that that GTCR has seen off competition from rival buyout firm Advent International and is now in advanced talks over the deal, which would be the largest in the firm’s history. 

Worldpay, which FIS acquired for $43 million in 2019, comprises the bulk of the company’s merchant division, a provider of payment processing services for companies. 

According to Reuters’s sources, a deal has yet to be reached but should terms be agreed, FIS is planning to retain a minority stake in the business.

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured