ATLANTA & JACKSONVILLE, Fla.--(BUSINESS WIRE)--Global Payments Inc. (NYSE: GPN), one of the largest worldwide providers of payment solutions, announced today that it has entered into a definitive agreement to purchase gaming assets from Certegy Check Services, Inc., a subsidiary of Fidelity National Information Services FIS™, related to its business for licensed gaming operators. This acquisition will be highly complementary to Global Payments’ gaming business and will expand its existing suite of innovative products and solutions.
“We are delighted to have entered into this strategic agreement with FIS to significantly expand our direct distribution in the United States gaming vertical,” said Global Payments’ President and Chief Operating Officer, David E. Mangum. “This acquisition and partnership allows us to cross sell our full suite of products to these acquired customers and enhance our value proposition, while leveraging FIS’ industry-leading scale and capabilities in risk management.”
Anthony Jabbour, EVP, North America, FIS said, “We are confident this move will also align our gaming clients with a top-tier partner that will continue to meet their payments needs.”
The FIS business includes 260 marquee gaming client locations and provides a comprehensive suite of services that are designed for the gaming industry. This transaction is subject to regulatory approvals and contractual closing conditions and is expected to close during the fourth quarter of Global Payments’ 2015 fiscal year. The company intends to fund the acquisition through operating cash flows and it is not expected to have a material impact on the company’s fiscal 2015 results or capital plans.
About Global Payments
Global Payments Inc. (NYSE: GPN) is a leading provider of payment services for merchants, value added resellers, financial institutions, government agencies, multi-national corporations and independent sales organizations located throughout North America, Brazil, Europe and the Asia-Pacific region. Global Payments, a Fortune 1000 company, offers a comprehensive line of solutions and services for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. Visit www.globalpaymentsinc.com for more information about the company and its services.
FIS is the world’s largest provider of banking and payments technology solutions and a global leader in consulting and outsourcing solutions. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 110 countries. Headquartered in Jacksonville, Fla., FIS employs more than 39,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 426 on the Fortune 500 and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.
This press release may contain statements, estimates or projections that constitute “forward-looking statements” pursuant to the safe harbor provisions of the U.S. federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from Global Payments’ and FIS’s historical experience and each company’s present expectations or projections. These risks include, but are not limited to, the satisfaction of the conditions precedent to the consummation of the transaction, changes in general economic, business and political conditions, changes in the growth rates of the markets for our solutions, and other risks detailed in each company’s filings with the Securities and Exchange Commission (SEC), including the “Risk Factors” section of each company’s most recent Annual Report on Form 10-K and subsequent SEC filings. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither FIS nor Global Payments undertakes any obligation to publicly update or revise any forward-looking statements.