By Connor Hart
Shares of Fidelity National Information Services and Global Payments moved in opposite directions after the payment-technology companies disclosed a deal that is expected to give both businesses more focus.
Shares of Fidelity on Thursday were trading 9.4% higher, at $75.12, on pace for their largest percent increase in over five years. The stock has gained 6.9% in the past year.
Shares of Global Payments were down 15%, to $71.43, marking a slight increase from an earlier low of $68.48. The stock, which has lost 42% of its value in the past year, is on pace for its lowest close in more than eight years.
Under the $24.25 billion deal, Global Payments will acquire Worldpay, which is 45% owned by Fidelity and 55% owned by private-equity firm GTCR. Meanwhile, Fidelity will purchase Global Payments' issuer-solutions business.
Global Payments said the deal will simplify its business model, positioning the company as a pure-play commerce solutions provider for global merchants of all sizes.
Fidelity's buy, meanwhile, will strengthen its position as a scaled fintech company with a wider global reach and an improved suite of products.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 17, 2025 14:41 ET (18:41 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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