India, April 17 -- Fidelity National Information Services (FIS), a financial technology company, Thursday said it has agreed to acquire rival Global Payments' (GPN) Issuer Solutions business for an enterprise value of $13.5 billion.
Issuer Solutions, a credit processing firm, processes more than 40 billion transactions per year.
The acquisition is expected to add to adjusted earnings in the first 12 months, with more than $125 million of revenue synergies longer-term. Within three years, the purchase is expected to deliver $45 million in incremental revenue synergies and more than $150 million in net EBITDA synergies.
Parallelly, FIS has agreed to sell its stake in Worldpay to Global Payments for a pre-tax price of $6.6 billion.
Both th...