Vantiv’s $10bn buyout of Worldpay expected to lead to more deals

By Prasun Bose

Vantiv laid down a marker on Wednesday after agreeing a deal to take over British payments company Worldpay for $10bn.

The Ohio-headquartered payments processor has offered close to $5 per share for Worldpay, which specializes in online and point-of-sale purchases.

Further movement is expected in the market as similar deals are targeted by credit card companies and banks. 

This is due to the ever-growing trend of consumers making transactions through devices rather than using cash.

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JP Morgan Chase had also expressed its interest in acquiring Worldpay but isn’t expected to table a bid to rival Vantiv’s, which will now be subject to usual due diligence processes under UK law.

“The Boards of Worldpay and Vantiv see compelling strategic, commercial and financial rationale for combining Worldpay and Vantiv’s complementary businesses,” Worldpay said in a statement. 

“The Potential Merger creates a scale world class payments group in a dynamic market, with deep payments capabilities, product and vertical expertise and strong distribution channels to serve merchants around the world in the global e-commerce market, and in-store and online in the UK and US markets.”

Worldpay, who listed publicly in 2015, saw their e-commerce revenue go up by 21.7 percent to £386.6m in 2016.

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