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Vantiv, Worldpay Agree on $10.4 Billion Merger

Vantiv and Worldpay each reported double-digit profit growth on Aug. 9 and announced that their respective boards have agreed to an £8 billion (US$10.4 billion) merger. The combined company, which will be called Worldpay, will be valued at approximately £22.2 billion (US$28.8 billion).

Vantiv will pay 55 pence in cash, 0.0672 of a new Vantiv share, an interim dividend of 0.8 pence per Worldpay share, and a special dividend of 4.2 pence per Worldpay share.

The combined payments giant will process approximately US$1.5 trillion in payment volume and 40 billion transactions through more than 300 payment methods in 146 countries and 126 currencies, with a combined net revenue of more US$3.2 billion, according to an announcement.

Vantiv CEO Charles Drucker will lead the combined company as executive chairman and co-CEO. Worldpay CEO Philip Jansen will report to Drucker and serve as co-CEO, while Stephanie Ferris will serve as CFO. Additional members of the combined company’s executive team will be announced at a later date.

“This is a powerful combination that is strategically compelling for both companies,” said Drucker. “It joins two highly complementary businesses, and will allow us to achieve even more together than either organization could accomplish on its own … Our combined company will have unparalleled scale, a comprehensive suite of solutions and the worldwide reach to make us the payments industry global partner of choice.”

Following completion of the merger, which is expected to close by the end of the year, Worldpay shareholders will own approximately 43 percent of the combined company, and Vantiv shareholders will own approximately 57 percent.

Cincinnati, will become the combined company’s global and corporate headquarters and London will become its international headquarters.

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