Global Payments Stock Plummets Pre-Market After $24B Worldpay Purchase, $13.5B Divestiture Of Issuer Solutions Business To FIS

Shares of Global Payments (GPN) fell more than 7% in pre-market trading on Thursday after the payments technology firm announced it would acquire full ownership of Worldpay in a $24.25 billion deal, while divesting its Issuer Solutions business to FIS for $13.5 billion.

Global Payments is acquiring Worldpay from FIS and private equity firm GTCR for a net price of $22.7 billion, or $24.25 billion including $1.55 billion in expected tax benefits.

The deal values Worldpay at 8.5 times adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) and Issuer Solutions at 12.3 times its adjusted EBITDA.

The two transactions will occur concurrently and are expected to close in the first half of 2026, pending regulatory approvals. 

Global Payments will finance the purchase using proceeds from the divestiture, existing cash, and $7.7 billion in new debt. GTCR will receive a 15% equity stake in Global Payments, priced at $97 per share.

CEO Cameron Bready said the twin transactions mark a “pivotal step” in the company’s strategy to become the preferred global commerce partner. 

Bready added that the transactions simplify the business and enhance its scale across small business, enterprise, ecommerce, and platform customers. 

Once completed, the company will serve over six million customers and process 94 billion transactions totaling $3.7 trillion annually. 

The combined business is projected to generate adjusted revenue of $12.5 billion and adjusted EBITDA of $6.5 billion in 2025.

Global Payments also plans to form a long-term commercial partnership with FIS across banking, fraud, and embedded payments.

The company expects the deal to be accretive to earnings within the first year and aims to cut leverage from 3.5 times at closing to 3.0 times within two years. 

It reaffirmed its investment-grade credit ratings and its 2025 financial guidance, including adjusted EPS of $2.69 in the first quarter and $2.83 excluding share-based compensation.

Global Payments’ stock is down 25% in 2025, and has fallen more than 31% over the past 12 months.

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