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Total System Services And Global Payments Settle To Multibillion-Dollar Merger

Total System Services and Global Payments, the payment technology firms, have settled on a stock merger of equals, as informed by resources to David Faber of told CNBC. The chief executive of Global Payments, Jeffrey Sloan, will operate the combined firm worth approximately $40 Billion, as per the resources. The stakeholders of Total System Services will obtain 48% of the combined company, they reported. Last week, CNBC had also reported that the Global Payments was closing an agreement to procure Total System Services for around $20 Billion.

The merger surfaces as established financial firms seek to contend with new technology players, such as PayPal and Square, which provide technology-steered services. As per PitchBook, the VC funding for processing and payments grew last year to a sum of $4.4 Billion—a rise by 46% from the previous year. The agreement between Total System Services and Global Payments would also record the most recent in a series of activities in the field of payment technology.

Likewise, Fiserv, the financial technology provider, declared intention in January to purchase First Data, a payment processor, in an agreement worth $22 Billion. Fidelity National Information Services, a fintech group, in March, declared intentions to purchase Worldpay for approximately $35 Billion. Furthermore, last week, Nuvei Corporation has also settled to shell out in cash $889 Million for SafeCharge International Group Ltd., a payment technology firm, as declared by the firm.

The deal will observe Nuvei shell out $5.55 for every SafeCharge stake, presenting a 25% premium to the stock of the London-listed firm on Tuesday market close. In 2014, SafeCharge listed at a company worth of $400 Million. It was established by CEO David Avgi and Teddy Sagi, an Israeli businessman, in 2006. Sagi possesses 68.3% of the firm through Northenstar Investments Ltd., implying he will see about $600 Million from the agreement.

Herbert Trejo Subscriber
Lead Editor At PR Industry News

Herbert has done masters in business finance. He has work experience with working in MNC and is excellent in finance and marketing. He loves to watch movies and television series in leisure time. He has in-depth knowledge of statistics. He always gives the best toward his professional tasks. Herbert is fully devoted to coverage of business news. He is having a commendable entrepreneur and leadership qualities.

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