All Updates

All Updates

icon
Filter
M&A
FIS to spin off Worldpay
FinTech Infrastructure
Feb 13, 2023
This week:
Partnerships
Microsoft and BlackRock partner to launch USD 30 billion AI data center investment fund
Machine Learning Infrastructure
Yesterday
Funding
Limitless Labs raises USD 3 million in pre-seed funding to develop prediction market
Web3 Ecosystem
Yesterday
Product updates
Google Cloud launches Blockchain RPC service for Web3 developers
Web3 Ecosystem
Yesterday
Product updates
Kore.ai launches GALE platform for enterprise GenAI adoption
Machine Learning Infrastructure
Yesterday
Product updates
Kore.ai launches GALE platform for enterprise GenAI adoption
Generative AI Infrastructure
Yesterday
Partnerships
Climeworks partners with Terraset to enable philanthropic support for carbon removal
Carbon Capture, Utilization & Storage (CCUS)
Sep 17, 2024
Funding
8 Rivers secures investment from JX Nippon to commercialize DAC technology
Carbon Capture, Utilization & Storage (CCUS)
Sep 17, 2024
Product updates
ProAmpac launches enhanced online pouch configurator MAKR by DASL for custom flexible packaging prototypes
Smart Packaging Tech
Sep 17, 2024
Funding
M&A
Majority stake in Bollegraaf Group acquired by Summa Equity for EUR 800 million
Waste Recovery & Management Tech
Sep 17, 2024
Partnerships
NASA awards Intuitive Machines contract for near-space network services
Space Travel and Exploration Tech
Sep 17, 2024
FinTech Infrastructure

FinTech Infrastructure

Feb 13, 2023

FIS to spin off Worldpay

M&A

  • FIS, a banking and payment solutions provider, has announced its intent to spin off its Merchant Solutions Business, “Worldpay,” almost four years after acquiring it for USD 43 billion (in March 2019). FIS expects the spinoff to be completed within 12 months. FIS shareholders will receive a pro-rata distribution of Worldpay stock.

  • Charles Drucker, former Worldpay CEO, is appointed as a strategic advisor for the spinoff process and is expected to serve as the CEO of Worldpay if the spinoff is completed.  

  • In 2022, Worldpay reportedly handled USD 2 trillion in payments across e-commerce, enterprise, and SMB users. Its revenue amounted to USD 4.8 billion, with an adjusted EBITDA margin of around 48%. 

  • Following the spinoff, Worldpay may look to pursue more aggressive investment opportunities, such as M&As to expand geographic coverage, further develop their omnichannel experiences, and improve solutions for integrated software vendors (ISVs) to embed finance capabilities.  

  • Analyst QuickTake: The spinoff comes at a time when the FinTech infrastructure industry has seen a period of consolidation. Within the last six months, there have been several acquisitions, including Marqeta acquiring Power Finance , Flutterwave entering the running to acquire Railsr, and Zuora acquiring Zephr .

Contact us

Gain access to all industry hubs, market maps, research tools, and more
Get a demo
arrow
menuarrow

By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.