In this new acquisition, Worldpay is valued at $43 billion including debt. After operating under that label for a period of nearly 7 years until 2018, Vantiv acquired a U.K. payment processing firm Worldpay. US credit card payment processing company Vantiv Inc has agreed to acquire its UK rival Worldpay in a deal worth $10.4bn, a move which will create a $29bn global payments giant. We contacted WorldPay tech support to ask who's ecommerce solution we should use, they suggested Vantiv's. The board will consist of five Worldpay and eight Vantiv directors. Vantiv beat out an offer from JPMorgan Chase. Cincinnati, Ohio will become the company's global and corporate headquarters and London, U.K. will become its international headquarters. Data is a real-time snapshot *Data is delayed at least 15 minutes. Charles and I look forward to delivering this value to our customers across the world.". Vantiv Grows with WorldPay Merger U.S. credit card processing company Vantiv secured a deal to buy British-based rival Worldpay for $10.4 billion this week in a bid to create a global payments powerhouse. In 2017, Worldpay Group was acquired by Vantiv for $10.6 billion. Worldpay deal: Worldpay Group, the U.K.’s leading payments processor, said it agreed in principle to accept a buyout offer from Vantiv, a rival American credit card processor. The offer represents an 18.9% premium to the closing share price of Worldpay in London on July 3. £14tn investor body wades into Worldpay merger with US rival. Worldpay, Inc. was formed in 2018 through the combination of the No. Vantiv will offer cash and stock for Worldpay shares. Current Worldpay CEO Philip Jansen will be co-CEO of the joint group. Worldpay shares will be delisted from the London Stock Exchange while the new Vantiv shares will be listed on the New York Stock Exchange. The deal, the Wall Street Journal says, “will create a trans-Atlantic payments processing giant with a … from 8 AM - 9 PM ET. Vantiv Inc. (VNTV) and Worldpay Group plc (WPG.L) announced that they have reached agreement on the terms of a recommended merger of Worldpay with Vantiv and Vantiv UK Limited. The new company will keep the Worldpay name with global and corporate headquarters in Cincinnati, Ohio. The “Mad Money” host analyzes a largely ignored merger in the payment processing space. Worldpay, Inc. trades on the NYSE as "WP" and the London Stock Exchange as "WPY. These synergies, Woodall added, were incremental to the revenue and cost synergies Worldpay is recognizing from the Vantiv-Worldpay acquisition finalized in … HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Both have emerged from a … New Vantiv shares will be authorized for primary listing on the New York Stock Exchange subject to official notice of issuance. Vantiv’s $10.4 billion acquisition of Worldpay creates a payments-processing powerhouse with a huge hand in helping travel businesses boost online and mobile purchases. THE VANTIV-WORLDPAY MERGER COULD CAUSE A SHIFT IN THE PAYMENTS LANDSCAPE IF THEY DO 2 IMPORTANT THINGS. Speaking hypothetically, if the merger happened at the end of December 2016, the combined group would be processing around $1.5 trillion in payment volume, according to the companies. Vantiv and Worldpay in $10.4bn merger. VANTIV AND WORLDPAY ANNOUNCE RECOMMENDED MERGER TO CREATE A GLOBAL LEADER IN PAYMENTS Creates a global leader in eCommerce with significant scale, differentiated products, and worldwide reach Leverages combined capabilities to expand into complementary, high-growth international geographies, verticals, and client segments Vantiv will offer cash and stock for Worldpay shares. (RTTNews) - Vantiv Inc. (VNTV) and Worldpay Group plc (WPG.L) announced that they have reached agreement on the terms of a recommended merger of … In August of 2017 the US company Vantiv agreed to acquire Worldpay for $10.4 billion. Vantiv Inc., appeared to ward off J.P. Morgan Chase & Co. in the pursuit of U.K. payments processor a Worldpay Group PLC, saying it had cinched a $10 billion takeover deal. By Stuart Kehler & Leland Bolleter. The merger is expected to close in early 2018, subject to customary closing conditions as well as regulatory approval and approval by shareholders of both Vantiv and Worldpay. The combined company will be valued at $30 billion. It was only a couple of years earlier that she led the integration after Vantiv's $12 billion purchase of Worldpay, after which it took Worldpay's name. Worldpay shareholders will own approximately 43 percent and Vantiv shareholders will own approximately 57 percent of the combined company. ", 1 Based on number of transactions; analysis of data published in The Nilson Report, issues 1095 (September 2016), 1105 (March 2017) and 1110 (May 2017). Worldpay, Inc.'s class A common stock will begin trading today on the New York Stock Exchange under the symbol "WP" and on the London Stock Exchange via a secondary standard listing under the symbol "WPY.". After the Vantiv Worldpay merger, Vantiv assumed the title of its newly acquired asset, with Worldpay merchant services remaining the firm’s final branding decision until its merger with FIS. Using its network and Sign up for free newsletters and get more CNBC delivered to your inbox. The combined company is expected to incur one-off restructuring and integration costs of approximately $330 million, the majority of which will be incurred by the end of the second year following completion of the merger. Recently, we noticed that most links to WorldPay's Virtual Terminal now redirect to the Vantiv website. The combined company will be valued at £22.2 billion or $28.8 billion. The proposed combination of the two companies was announced on August 9, 2017. The combined company will be valued at £22.2 billion or $28.8 billion. All trademarks, service marks and trade names referenced herein are the property of their respective owners. Worldpay is a $3.9 billion major processor of merchant transactions—mobile, online, and in-store, with an emphasis on e-commerce. Transaction Creates a Leading Global Payments Provider in Integrated Omni-Commerce, Differentiated by Leading Capabilities and Expertise in High-Growth Verticals, - Creates Leading Global eCommerce Payments Platform, - Takes Vantiv's Leadership and Expertise in Integrated Payments into New Markets, - Leverages Combined Technology Capabilities to Deliver Customer-Centric Innovation at Scale. The Vantiv-Worldpay merger is expected to trigger further deals, Reuters reports. "Our combination is transformative for our colleagues, customers and the worldwide payments industry," said Charles Drucker, executive chairman and co-CEO of Worldpay, Inc. "We would not be here without the enthusiasm, dedication and hard work of all our people, who will continue to forge the future of payments. Get this delivered to your inbox, and more info about our products and services. Executives of the new Worldpay - which today becomes the #1 Global Merchant Acquirer1 able to accept payments from geographies covering 99 percent of global GDP - will ring the Closing Bell of the New York Stock Exchange to celebrate the first day of trading as the newly combined company. Worldpay said that for each of its shares, Vantiv offered 55 pence in cash, 0.0672 of a new Vantiv share, an interim dividend of 0.8 pence per Worldpay share, and a special dividend of 4.2 pence per Worldpay share. The combined group will be led by Vantiv Chief Executive Charles Drucker as executive chairman and co-CEO. Vantiv today officially completed its acquisition of Worldpay Group plc. It would also see 40 billion transactions in 146 countries and 126 currencies, with a combined net revenue of over $3.2 billion, on a pro forma basis. The merger is expected to close in early 2018, subject to customary closing conditions as well as regulatory approval and approval by shareholders of both Vantiv and Worldpay. August 10, 2017 in Mergers/Acquisitions. In July for example, Mastercard agreed to buy 92.4 percent of VocaLink Holdings for about $920 million. Under the terms of the cash-and-stock transaction, shareholders of Worldpay would own about 41% of the share capital of the newly-combined group, the companies said. © 2021 CNBC LLC. This new global payments leader will have a pro forma enterprise value of $31 billion (£23 billion), processing over US$1.5 trillion (£1.1 trillion) in payment volume. With industry-leading scale and an unmatched integrated technology platform, Worldpay offers clients a comprehensive suite of products and services globally, delivered through a single provider. In respect of each Worldpay Share for which a valid Cash Election was made and satisfied, Worldpay … This will be evidenced as Worldpay creates customer-centric innovation at scale, leveraging our combined operations, technology infrastructure and data and analytics capabilities. Vantiv, Worldpay reach merger agreement Aug. 9, 2017 The boards of directors of Vantiv Inc. and Worldpay Group PLC have reached agreement on the terms of a recommended merger of Worldpay with Vantiv and its subsidiary, Vantiv UK. Under the terms of the merger, Worldpay shareholders will be entitled to receive 55 pence in cash for each Worldpay share held and 0.0672 of a new Vantiv share for each Worldpay share held. This price represents full value, in … When typing in this field, a list of search results will appear and be automatically updated as you type. CINCINNATI and LONDON, Jan. 16, 2018 /PRNewswire/ -- Vantiv, Inc., a leading provider of payment processing services and related technology solutions for merchants and financial institutions in … A Division of NBCUniversal. BY Richard Summerfield. Barclays and Goldman Sachs acted as advisors for Worldpay and Morgan Stanley and Credit Suisse acted for Vantiv. ", Philip Jansen, co-CEO of Worldpay, Inc., said, "The new senior leadership team is in place and has already begun to implement our plan to integrate the two businesses, delivering new value for customers, realizing cost synergies and capturing revenue opportunities that will benefit our shareholders. Creating a giant: Vantiv has formally agreed to acquire U.K. payments processor Worldpay Group for about £8 billion ($10.4 billion) in cash and stock. "The boards of Vantiv and Worldpay recognize the attractive opportunity which exists for the merger to bring together global scale, integrated technology, and diverse distribution to create a market leader in payment technology to power omni-commerce," both companies said in a regulatory filing. By combining the expertise of our teams, we will provide further value to our customers, helping them prosper in the fast-changing and complex digital economy. Vantiv’s announced $9.94 billion purchase of Worldpay deserves more attention, as … The combined company was estimated to have a pro forma enterprise value of … The companies formally combined on Tuesday (Jan. 16) after proposing a merger back in August of 2017. Cision Distribution 888-776-0942 Vantiv’s purchase is part of a wave of payments company mergers as consumers move away from cash transactions to digital payments. 1 merchant acquirers in the U.S. and the U.K., Vantiv, Inc. and Worldpay Group plc. Vantiv has agreed to acquire Worldpay for £8 billion ($10.4 billion). "Detailed discussions" between the two firms took place in January and February 2016. Let’s recall that in August 2017, the boards of Worldpay and Vantiv announced that they had reached agreement on the terms of a recommended merger of Worldpay with Vantiv and Bidcoin the form of a recommended offer for the entire issued and to be issued ordinary share capital of Worldpay by Vantiv and Bidco. Chris Ratcliffe | Bloomberg | Getty Images, Vantiv beats out JPMorgan Chase for Worldpay merger, Credit technology firm Vantiv to merge with Worldpay in $9.94 billion deal, SAP co-CEOs on taking over the reins from Bill McDermott, Indian ride-hailing firm Ola expands to Australia to take on Uber, Uber rival Ola buys Foodpanda’s India business from Delivery Hero. The company's growth strategy includes expanding into high-growth markets, verticals and customer segments, including global eCommerce, Integrated Payments and B2B. © 2018 Worldpay, Inc. All Rights Reserved. Vantiv Chief Financial Officer Stephanie Ferris, will remain CFO of the combined group. MediaAndrew CiafardiniCorporate Communications513.900.5308[email protected], Adam KiefaberCorporate Communications513.900.5097[email protected], InvestorsNathan RozofInvestor Relations866.254.4811 or 513.900.4811 [email protected]. Vantiv and Worldpay Merger. Got a confidential news tip? The combined company, named Worldpay, Inc. (NYSE: WP; LSE: WPY), creates a leading payments provider uniquely equipped to power global integrated omni-commerce, processing more than 40 billion transactions annually through more than 300 payment types across 146 countries and 126 currencies. The merger of payment processors Vantiv Inc. and London-based Worldpay Group plc was completed Jan. 16, and up next for leaders of the combined company is integration of operational platforms, selling products to a wider customer base, and achieving their goal of $200 million in cost savings in three years. We want to hear from you. Vantiv/Worldpay merger; ‘Tough spell’ for banks. U.S. credit card processing company Vantiv agreed on Wednesday to buy Worldpay, the U.K.'s largest payment processing company, for £8 billion ($10.4 billion). A regulatory filing revealed that discussions between Worldpay and Vantiv have been held at various times over the past two years. We contacted Vantive customer support, they stated they are unsure of the merger status and directed us to Vantive tech support. Vantiv and Worldpay agreed on terms of a deal valuing Worldpay at $12b, or 16x C18 EBITDA and 25x C18E EPS. All Rights Reserved. As the chief transformation officer leading the Worldpay integration at FIS, Beatty was no stranger to dealing with constant, complex changes in her work environment. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Annually, Worldpay processes over 40 billion transactions through more than 300 payment types across 146 countries and 126 currencies. Worldpay and other Worldpay and Vantiv products and services mentioned herein as well as their respective logos are registered trademarks or trademarks of Worldpay, Inc. and Vantiv, LLC in the U.S. and other countries. Consolidation is continuing to happen in the payments space amid a drive to lower costs and as large players face competition from nimble start-ups. Vantiv first announced its intention to buy Worldpay in July. The Investor Forum has taken the rare step of intervening in discussions about Vantiv’s £9bn bid for Worldpay, Sky News learns. The combined company, named Worldpay Inc., is now set to process more than 40 billion transactions annually through more than 300 payment types across 146 countries and 126 currencies, according to a press release. • On August 9, 2017, Vantiv and Worldpay announced that they have reached agreement on the terms of a recommended merger for total consideration of $12.0Bn (representing 18.6x LTM EBITDA without synergies) • Worldpay is a leading payments technology company to over 400,000 clients worldwide. Vantiv will also seek a secondary listing for its new shares on the London Stock Exchange. Vantiv has agreed to acquire Worldpay for £8 billion ($10.4 billion). The Vantiv Directors have approved the Merger and intend to recommend that Vantiv Shareholders vote in favour of the issuance of New Vantiv Shares in connection with the Merger. A Worldpay Group Plc card payment machine prints a receipt in a retail outlet. ABOUT WORLDPAY, INC.Worldpay, Inc. 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