The completion of the $24.25bn transaction formally closes one of the payments industry’s most complex three-way deals and reshapes the competitive landscape for global merchant acquiring.
Global Payments has completed its acquisition of Worldpay, closing one of the largest transactions ever seen in the global merchant acquiring and payments processing market and formally concluding a complex three-way deal involving FIS and private equity firm GTCR.
The transaction, first announced in April 2025, sees Global Payments acquire Worldpay for $24.25bn in cash and stock from FIS and GTCR.
Simultaneously, FIS has completed its acquisition of Global Payments’ Issuer Solutions business, reshaping the strategic focus of all three parties.
The closing follows a series of regulatory approvals across key jurisdictions, including UK clearance from the Competition and Markets Authority at Phase 1 in October, removing one of the most closely watched hurdles for the deal.
From regulatory green light to closing
The CMA’s Phase 1 decision concluded the transaction did not raise competition concerns requiring a deeper investigation, despite the scale of the combined merchant acquiring platform. That clearance paved the way for completion in early 2026, in line with guidance previously issued by the companies.
With the deal now closed, Global Payments adds Worldpay’s extensive omni-commerce capabilities to its portfolio, creating a merchant platform that processes tens of billions of transactions annually across cards, digital wallets and alternative payment methods.
As part of the agreed structure, GTCR will retain a significant minority exposure to the combined group, holding shares representing around 15% of Global Payments’ equity. The private equity firm acquired a majority stake in Worldpay from FIS in mid-2023, backing a carve-out and transformation led by CEO Charles Drucker.
“Our partnership with CEO Charles Drucker and the Worldpay team over the last two years illustrates the value of our Leaders Strategy approach and expertise executing complex transactions to drive transformational change and growth in businesses of all sizes,” said Collin Roche, Co-CEO and Managing Director of GTCR. “We look forward to continuing to participate in the growth and success of the combined business and supporting its ongoing evolution as a leader in payments and payments technology worldwide.”
Strategic reshaping of payments portfolios
For Global Payments, the transaction sharpens its focus on merchant commerce and acquiring, following the divestment of its issuer processing unit to FIS. That move reflects a broader industry trend among large payment processors to simplify portfolios and double down on core growth engines, particularly software-led merchant services.
Worldpay, meanwhile, exits private equity ownership having undergone a two-year separation from FIS, alongside increased investment in technology and global processing infrastructure. Under Drucker’s leadership, the business sought to reposition itself as a standalone payments technology platform rather than a legacy processor.
GTCR described the sale as one of the largest strategic exits in private equity history, underlining both the scale of the asset and the pace of consolidation across global payments.
“We have tremendous confidence in the future of the combined business, including its ability to compete and deliver value in the payments and payment technology market,” said Aaron Cohen, Managing Director and Head of Financial Services & Technology at GTCR. “This transaction reflects the hard work and collaboration of all parties involved – we deeply appreciate the leadership from Charles and the Worldpay team, as well as the partnership with FIS, that made this successful outcome possible.”
