Global Payments Inc. (NYSE: GPN), a software payment and solutions provider, announced today that it has entered into a definitive agreement on the allocation of the payroll business to Acrisure, a financial technology company based in Grand Rapids, Michigan for a total examination of 1.1 billion dollars.
Global payments intend to use revenue from taxation after divestiture to return funds to shareholders while maintaining the leverage of neutrality.
The sale of the payroll business is the last step that world payments have further received the simplification of its business and the company’s position as a leading Pure Pure Pure Pure Commerce solutions provider for traders of all sizes. As part of the transformation program described at the September 2024 investor conference, global payments have also recently announced agreements on the assignment of Issuer’s Solutions and the acquisition of WorldPay and closed the sale of Advancedmd.
“I am pleased with the progress we make with our transformation program, as we are aggressively moving to simplify our business and enhance the value of shareholders,” said Cameron Bready, chief executive of world payments. “This transaction is further sharpening our strategic focus and allows us to boost investment in markets and solutions where we are more different, while at the same time putting payroll businesses to benefit from a larger scale and investment that are going on.”
In relation to the transaction, global payments entered into a reciprocal referral agreement and long -term commercial cooperation with Acrisure, in which global payments will continue to provide fully integrated human capital management and payroll offers to its traders as part of the Soluer Solutions.
The transaction is expected to close in the second half of 2025, without prejudice to the receipt of the required regulatory approvals and other usual closing conditions.