Worldpay, LLC, a payment technology and solutions provider, announced today that it has closed on its previously announced sale and will now operate as an independent company.
The company will be overseen by leading private equity firm GTCR, with a majority stake of 55%, while FIS® (NYSE:FIS) will retain 45% ownership. In conjunction with the closing of the sale, Charles Drucker has reassumed his former role as CEO and will work to optimize performance and accelerate growth.
Worldpay plans to pursue strategic acquisitions across industries and geographies to further strengthen its ability to serve customers and expand its market opportunities. GTCR has committed an additional equity investment of up to $1.3 billion to pursue these opportunities.
“I couldn’t be more excited to help lead the next chapter in Worldpay’s growth story as an independent company,” said Charles Drucker, CEO of Worldpay. “We will be faster and more agile, while bringing even more value to our customers and partners. The Worldpay team is passionate about payments and its customers, and together we will forge the future of this evolving industry. I am also pleased to continue a strong partnership with FIS to maintain the end-to-end value proposition that has already benefited so many of our customers.”
As part of the transaction, Worldpay and FIS have entered into a long-term commercial relationship, maintaining a strong strategic go-to-market partnership that provides Worldpay and FIS customers with ongoing access to a broad set of complementary solutions.
“Worldpay is well positioned for enhanced growth and we look forward to continuing the strong partnership between our companies through our new commercial agreements,” said Stephanie Ferris, CEO and President of FIS. “I am incredibly excited by the bright future for both FIS and Worldpay and the customers we serve.”
Cincinnati, Ohio will serve as Worldpay’s Global Corporate Headquarters and London, United Kingdom will serve as the Company’s international headquarters.