Worldpay commences operations as independent company
Worldpay, LLC, a provider of payments technology and solutions, announced today that it has closed upon 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 55% majority ownership interest, while FIS® (NYSE:FIS) will retain a 45% ownership interest. In conjunction with the closing of the sale, Charles Drucker has resumed his former role as CEO and will work to optimize performance and accelerate growth.
Worldpay plans to pursue strategic acquisitions across verticals and geographies to further enhance its ability to serve clients and expand its market opportunities. GTCR has committed an additional equity capital investment of up to $1.3 billion to pursue these opportunities.
“I couldn’t be more excited to help lead the next chapter of Worldpay’s growth story as an independent company,” said Charles Drucker, CEO of Worldpay. “We will be faster and nimbler while bringing even more value to our clients and partners. The Worldpay team is passionate about payments and their clients, and together we will forge the future of this evolving industry. I’m also pleased to continue a strong partnership with FIS to preserve the end-to-end value proposition that has already benefitted so many of our clients.”
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 both Worldpay and FIS clients continued access to a broad set of complementary solutions.
“Worldpay is well positioned for enhanced growth, and we look forward to continuing the strong partnership forged between our companies through our new commercial agreements,” said Stephanie Ferris, CEO and President of FIS. “I’m incredibly excited by the bright futures ahead for both FIS and Worldpay and the clients we serve.”
Cincinnati, Ohio will serve as Worldpay’s Global Corporate Headquarters and London, United Kingdom will serve as the Company’s International Headquarters.
