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Key facts
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FIS
acquires Worldpay, one of the world’s leading global eCommerce and payment
technology companies.
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Post-acquisition,
FIS will have over $12billion in pro forma revenue and be a global leader in
technology and solutions for merchants, banks and capital markets.
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With more
than 55,000 employees and a best-in-class technology portfolio, FIS is
positioned to accelerate its growth and advance the way the world pays, banks
and invests.
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JACKSONVILLE, Fla., July 31, 2019 – FIS (NYSE: FIS) today announced the closing of its acquisition of
global payments leader Worldpay, Inc., creating a global leader in technology
and solutions for merchants, banks and capital markets.
The combined company will have over $12 billion
in pro forma revenueand more than 55,000 employees.With a best-in-class
portfolio of solutions for payments, banking and capital markets, FIS is
positioned to accelerate its growth and advance the way the world pays, banks
and invests.
“This is an exciting day for FIS and Worldpay,
and for the industry as a whole,” said FIS Chairman, President and CEO Gary
Norcross. “This transformativecombination significantly enhances the scale,
portfolio and global footprint of FIS to help our clients capitalize on growth
opportunities at a time of rapid marketplace change.
“I would like to extend a warm welcome to Worldpay
employees, clients and investors to the FIS family as we work together to bring
the benefits to businesses and communities around the world,” Norcross said. “I
couldn’t be more optimistic about the future of this company and the innovations
and advancements we can bring to advance the way the world pays, banks and invests.”
“The global payments
industry is moving at an accelerated speed and it is vital that large providers
such as FIS stay ahead,” said Rivka Gewirtz Little, research director, Global
Payment Strategies at IDC Financial Insights. “The combination of FIS and
Worldpay enhances FIS’ overall acquiring and payment offerings, positioning the
company to offer best-in-class enterprise banking, payments, capital markets,
and global eCommerce capabilities to financial institutions and businesses
worldwide.”
Several
former Worldpay executives will assume key leadership roles at FIS. Mark
Heimbouch, former president and chief operating officer at Worldpay, is joining
FIS as president of the company’s Merchant Solutions division. Stephanie
Ferris, former chief financial officer at Worldpay, is joining FIS as its
enterprise-wide chief operating officer. Charles Drucker, former executive chairman and chief
executive officer at Worldpay, is joining the FIS board of directors as vice
chairman. Key leaders from Worldpay will also remain with the company.
The
company will announce second quarter earnings for both FIS and Worldpay
beginning at 8:30 a.m. ET on Tuesday, August 6. Details about this webcast can
be found on the Investor
Relations section of FIS’
homepage, www.fisglobal.com.
FIS is a global leader in technology, solutions
and services for merchants, banks and capital markets that helps businesses and
communities thrive by advancing commerce and the financial world. For over 50
years, FIS has continued to drive growth for clients around the world by
creating tomorrow’s technology, solutions and services to modernize today’s businesses
and customer experiences. By connecting merchants, banks and capital markets,
we use our scale, apply our deep expertise and data-driven insights, innovate
with purpose to solve for our clients’ future, and deliver experiences that are
more simple, seamless and secure to advance the way the world pays, banks and
invests. Headquartered in Jacksonville, Florida, FIS employs about 55,000
people worldwide dedicated to helping our clients solve for the future. FIS is
a Fortune 500® company and is a member of Standard & Poor’s 500® Index.
Forward-Looking Statements
This
release contains “forward-looking statements” within the meaning of the U.S.
federal securities laws. Statements that are not historical facts, including
statements about anticipated financial outcomes, business and market
conditions, outlookand anticipated profitability and growth, as well as other
statements about our expectations, beliefs, intentions, or strategies regarding
the future, are forward-looking statements. These statements relate to future
events and our future results,and involve a number of risks and uncertainties.
Forward-looking statements are based on management’s beliefs, as well as
assumptions made by, and information currently available to, management. Any
statements that refer to beliefs, expectations, projections or other
characterizations of future events or circumstances and other statements that
are not historical facts are forward-looking statements.
Actual
results, performance or achievement could differ materially from those
contained in these forward-looking statements. The risks and uncertainties that
forward-looking statements are subject to include, without limitation:
·
the risk that the Worldpay transaction will
not provide the expected benefits, or that we will not be able to achieve the
cost or revenue synergies anticipated;
·
the risk that the integration of FIS and
Worldpay will be more difficult, time-consuming or expensive than anticipated;
·
the risk of customer loss or other business
disruption in connection with the Worldpay transaction, or of the loss of key
employees;
·
the fact that unforeseen liabilities of FIS
or Worldpay may exist;
·
the risk that acquired businesses will not be
integrated successfully, or that the integration will be more costly or more
time-consuming and complex than anticipated;
·
the risk that cost savings and other
synergies anticipated to be realized from acquisitions may not be fully
realized or may take longer to realize than expected;
·
the risks of doing business internationally;
·
changes in general economic, business and
political conditions, including the possibility of intensified international
hostilities, acts of terrorism, changes in either or both the United States and
international lending, capital and financial markets, and currency
fluctuations;
·
the effect of legislative initiatives or
proposals, statutory changes, governmental or other applicable regulations
and/or changes in industry requirements, including privacy and cybersecurity
laws and regulations;
·
the risks of reduction in revenue from the
elimination of existing and potential customers due to consolidation in, or new
laws or regulations affecting, the banking, retail and financial services
industries or due to financial failures or other setbacks suffered by firms in
those industries;
·
changes in the growth rates of the markets
for our solutions;
·
failures to adapt our solutions to changes in
technology or in the marketplace;
·
internal or external security breaches of our
systems, including those relating to unauthorized access, theft, corruption or
loss of personal information and computer viruses and other malware affecting
our software or platforms, and the reactions of customers, card associations,
government regulators and others to any such events;
·
the risk that implementation of software
(including software updates) for customers or at customer locations or employee
error in monitoring our software and platforms may result in the corruption or
loss of data or customer information, interruption of business operations,
outages, exposure to liability claims or loss of customers;
·
the reaction of current and potential
customers to communications from us or regulators regarding information
security, risk management, internal audit or other matters;
·
competitive pressures on pricing related to
the decreasing number of community banks in the U.S., the development of new
disruptive technologies competing with one or more of our solutions, increasing
presence of international competitors in the U.S. market and the entry into the
market by global banks and global companies with respect to certain competitive
solutions, each of which may have the impact of unbundling individual solutions
from a comprehensive suite of solutions we provide to many of our customers;
·
the failure to innovate in order to keep up
with new emerging technologies, which could impact our solutions and our
ability to attract new, or retain existing, customers;
·
the failure to meet financial goals to grow
the business in Brazil after the unwinding of the Brazilian Venture;
·
the risks of reduction in revenue from the
loss of existing and/or potential customers in Brazil after the unwinding of
the Brazilian Venture;
·
an operational or natural disaster at one of
our major operations centers;
·
failure to comply with applicable
requirements of payment networks or card schemes or changes in those
requirements;
·
fraud by merchants or bad actors; and
·
other risks detailed in the “Risk Factors”
and other sections of our Annual Report on Form 10-K for the fiscal year ended
December 31, 2018 and in our other filings with the Securities and Exchange
Commission.
Other
unknown or unpredictable factors also could have a material adverse effect on
our business, financial condition, results of operations and prospects.
Accordingly, readers should not place undue reliance on these forward-looking
statements. These forward-looking statements are inherently subject to
uncertainties, risks and changes in circumstances that are difficult to
predict. Except as required by applicable law or regulation, we do not
undertake (and expressly disclaim) any obligation and do not intend to publicly
update or review any of these forward-looking statements, whether as a result
of new information, future events or otherwise.
