4 billion USD worth transaction concluded in US fintech market

02.08.2022 | 13:43 Home / News / Fintech /
#Global Payments #EVO Payments
Global Payments, a leading worldwide provider of payment technology and software solutions, announced about acquiring EVO Payments, a leading global provider of payment technology integrations and acquiring solutions.

The cost of the transaction will make $4 billion - $34.00 per share. The transaction has been unanimously approved by each company’s Board of Directors. It is expected to close no later than the first quarter of 2023.

Press release says that the transaction will significantly increase Global Payments’ target addressable markets, further enhance its leadership in integrated payments worldwide, expand its presence in new and existing faster growth geographies, and augment its B2B software and payment solutions with the addition of accounts receivable software with broad third-party acceptance.

The transaction will expand Global Payments’ geographic footprint into attractive new geographies such as Poland, Germany, Chile, and upon closing, Greece, as well as enhance its scale in existing markets, including the United States, Canada, Mexico, Spain, Ireland and the United Kingdom.

“The acquisition of EVO is highly complementary to our technology-enabled strategy and provides meaningful opportunities to increase scale in our business globally. Together with EVO, we are positioned to deliver an unparalleled suite of distinctive software and payment solutions to our combined 4.5 million merchant locations and more than 1,500 financial institutions worldwide,” said Cameron Bready, President and Chief Operating Officer at Global Payments.

For his part, Jim Kelly, Chief Executive Officer at EVO, stressed that joining EVO and Global Payments will unite highly complementary portfolios of technology-enabled products and partnerships to create an even stronger organization serving a broader customer base.

Global Payments is headquartered in Georgia and has approximately 25,000 team members worldwide. EVO is headquartered in Atlanta, with over 2,400 employees serving more than 550,000 merchants around the world.

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