Worldpay Group, a British payment processing firm, announced on Wednesday that Vantiv has offered $10 billion towards the fintech company’s acquisition. The companies revealed in a joint statement:
“The Boards of Worldpay and Vantiv see compelling strategic, commercial and financial rationale for combining Worldpay and Vantiv’s complementary businesses. The Potential Merger creates a scale world class payments group in a dynamic market, with deep payments capabilities, product and vertical expertise and strong distribution channels to serve merchants around the world in the global e-commerce market, and in-store and online in the UK and US markets.”
The news of Worldpay agreeing to terms of Vantiv’s acquisition offer comes just after the fintech company confirmed it was approached both Vantiv and JPMorgan for the possible acquisition. But JPMorgan also revealed:
“In response to an invitation from Worldpay, JPMorgan was at a very early stage in considering whether or not to make an offer or the terms of any offer for Worldpay. Following preliminary considerations, JPMorgan hereby announces that it does not intend to make an offer for Worldpay.”
In response to Vantiv’s offer, Worldpay reportedly stated:
“The Boards of Worldpay and Vantiv have identified substantial opportunities for cost synergies, which support significant potential shareholder value creation.”
Worldpay describes itself as a global leader in payments processing technology and solutions for business customers. Its platform enables companies to accept an array of payment types, across multiple channels, from anywhere around the world.
“On a typical day, we process 31 million mobile, online & in-store transactions. Last year we supported over 400,000 companies in 126 currencies across 146 countries, offering over 300 payment methods. Our services are delivered by 5,500 colleagues via our corporate headquarters in London & 25 offices in 11 countries around the world. In 2015 we floated on the London Stock Exchange and went straight into the FTSE 100.”
