4. How does this combination compare to Fiserv’s announced merger with First Data?
We do not comment on competitor transactions. This combination is driven by our long-term strategy to increase our global scale, expand our portfolio and enter complementary new markets. We have followed Worldpay’s success for several years and felt this was the right time to make this move.
5. When will the transaction close?
We expect the transaction to close later in the year.
6. How will our clients benefit from this transaction?
FIS and Worldpay lead our respective markets in modernization investments. Upon closing, our clients will have access to a wider portfolio of modern, digital assets that can help them accelerate growth, streamline operations and better engage with their customers.
The FIS and Worldpay payment solution portfolios are very complementary. As a result, and upon closing, FIS will be uniquely positioned to accelerate the future of finance and commerce globally through the industry’s broadest range of enterprise banking and payments capabilities that empower financial institutions, retailers, capital markets and businesses worldwide. The addition of Worldpay will bring new solutions, services and talent that enhance our current client offerings including significant scale in merchant acquiring services.
7. Will our name, leadership or headquarters change?
The combined company will operate under the FIS name and will be headquartered in Jacksonville, Fla. FIS chairman, president and CEO, Gary Norcross, will be chairman, president and CEO of the combined company.
Worldpay’s executive chairman and CEO, Charles Drucker, will become executive vice chairman of the FIS board of directors upon close. He will also assist with our focused efforts to improve on organic growth.
There will be many opportunities for individuals at both companies to take on exciting new responsibilities and challenges.
We will be streamlining and simplifying our organizational structure around financial institutions, capital markets and retail payments. Our Retail Payments business will operate under the Worldpay name.
8. When can we begin to work with Worldpay?
We cannot begingo-to-market planning until the transaction closes later this year. Until that time, both companies will continue to operate independently and perform business as usual. This means an intense focus on our clients and our current business objectives.We are also prohibited from acting jointly with respect to new business or current clients, including those we may have in common.
9. How will our teams come together after the transaction closes?
When legally permitted to do so, we will begin our integration efforts, working with Worldpay leaders to evaluate the impact of change across both businesses as well as to ensure a smooth transition for both clients and employees. We will begin to share and communicate our integration plan as soon as we are able to post-close.
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