Worldpay, LLC, (the “Company”), a global industry leader in 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), a global leader in financial services technology, 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.
As an independent company, Worldpay is committed to bringing greater levels of value, innovation and service to clients through increased investment in product development, technology and client solutions. The Company also 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.”
“Worldpay is a global leader in the payments sector with a strong history of innovation and product delivery. Today marks an important milestone, beginning the next phase of the company’s growth and innovation,” said Collin Roche, GTCR Co-CEO and Managing Director. “As we approached this date, it has been clear that Worldpay’s exceptional team of payment and technology professionals is energized by the company’s return to independent operations under the leadership of Charles. With its rich legacy, advanced technology and unique delivery-oriented culture, we are confident that Worldpay will once again set the standard for this industry.”
Added Aaron Cohen, Managing Director and Head of Financial Services & Technology at GTCR, “We are thrilled to work with Charles and the talented and experienced team that he has assembled to lead the company. We are confident that clients will benefit from further enhancement of Worldpay’s offerings and a more agile customer-oriented approach as an independent company. We are equally enthusiastic about our partnership with FIS and our ability to work together to drive growth and value at Worldpay.”
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.