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Global Payments Plans Purchase of Total System Services for $21.5B: Report

Saturday, Jun 01 2019
News
Written by  FinTech News Brief Staff
Global Payments Plans Purchase of Total System Services for $21.5B: Report

Global Payments will acquire rival company Total System Services for $21.5 billion in what is being described as the “latest salvo in the fintech arms race.” So reports CNN.

The new entity will service 3.5 million merchants and 1,300 large institutions. As a result of the deal, Global Payments shareholders will take ownership of own 52% of the merged entity. Recently, Fisserv purchased First Data for $22 billion and Fidelity National Information Services revealed it was planning to acquire Worldpay for $43 billion.

Click here to read the full article from CNN.

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