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And what do you do where Square has a growing -- a rapidly growing point-of-sale lending business? Several times during the company's conference call announcing the deal, management reinforced that the all-stock merger would allow the balance sheet to remain solid enough for the company to continue its software acquisition strategy. He expects the company to recognize its annualized cost savings goal of $300 million in three years. Image source: Getty Images. For the time being, at least, both companies' headquarters, about 100 miles apart in Georgia, will remain in operation. Global Payments shareholders will hold 52% of the combined company, and CEO Jeff Sloan will still hold the position after the merger is finalized. Jeffrey Sloan, the chief executive of Global Payments… “We are going to be in a position to continue to invest in growth and not be over-burdened with debt such that we can’t innovate and invest,” Cameron Bready, Global Payments’ chief financial officer, said in an interview. The merger is expected to create a more holistic company that handles both sides -- the merchant's and the bank's -- of every card payment transaction. Image source: Global Payments/Total System Services May 28 investor presentation. Total System shares rose 6.9% to $121.24 at 10:31 a.m. in New York. “If you think about the payments world, really Global Payments and TSYS were the last two large, independent payment players. Global Payments and Total Systems Services, US payment services, concluded a merger agreement. When Brazil's government deployed financial assistance during the pandemic, thousands of people with no banking access were left without help. Cumulative Growth of a $10,000 Investment in Stock Advisor, Global Payments Acquires Total System Services: Everything Investors Need to Know @themotleyfool #stocks $GPN $TSS $FIS $FISV $SQ, Why Global Payments Stock Fell 11.2% Last Month, Total System Services Inc (TSS) Q3 2020 Earnings Call Transcript, Total System Services Inc (TSS) Q2 2020 Earnings Call Transcript, Global Payments (GPN) Q1 2020 Earnings Call Transcript, Copyright, Trademark and Patent Information. ... ©2020 Total System Services LLC. With 100% focus on payments, we bring unmatched reach and extensive scale to help you grow your business with confidence. Sloan, who will lead the combined company, said Global Payments and Total System had talked about combining a number of times over the past decade. The combined company will be worth roughly $40 billion. Global Payments Inc. GPN, a provider of payments technology and software solutions to customers globally, has completed its earlier announced acquisition of Total System Services, Inc. The transaction will create a powerhouse that provides payment technology and software to more than 3.5 million small to midsize merchants and more than 1,300 financial institutions worldwide, the two companies said in a statement Tuesday. He could be right. Global Payments and Total System Services said they expect to extract about $300 million in annual cost savings, and generate $8.6 billion in annual adjusted net revenue and $3.5 billion in adjusted EBITDA. Global Payments provides payment processing services to merchants, allowing them to accept credit and debit cards, along with other payment types (this role is known as a merchant acquirer). Habere göre 40 milyar dolar büyüklüğe ulaşacak yeni Şirket'i Global Payments'ın CEO'su Jeffrey Sloan yönetecek. TSYS shareholders will own 48% of the combined company. The Columbus, Georgia-based firm is the country’s largest provider of such services, managing about 40% of Visa Inc. and Mastercard Inc. domestic accounts last year. The price tag places this as the third-largest fintech agreement ever. The transaction is expected to close by the end of the calendar year. So it's very much an ecosystem. There's a lot of modernization going on. Global Payments Inc. agreed to buy Total System Services Inc. in a deal valued at $21.5 billion, the payment industry’s third mega-merger of the year. Total System Services, a global payments provider that offers solutions across the issuing, merchant and consumer segments, will combine with Global Payments in a merger of equals. Global Payments helps businesses handle credit and debit card payments. Under terms of the arrangement, Total System Services shareholders will receive 0.8101 shares of Global Payments for every share. CNBC'nin haberine göre birleşme kararı bu sabah kamuoyuna duyurulacak. Shares in Total System Services Inc. rose about 4% in premarket trading and shares of Global Payments Inc. fell by about the same. Total System Services is what’s known as an issuer processor, meaning it helps banks manage their credit and debit card portfolios for everything from card authorizations to detecting fraud and calculating rewards. We just felt like it made a lot of sense to control our own destiny and pick our dance partner.”. Wachtell, Lipton, Rosen & Katz is providing legal advice for Global Payments, while King & Spalding is helping Total System. “The pace of change in the industry driven by innovation in technology, coupled with the need to have additional scale, had made this deal a function of a matter of time,” Global Payments Chief Executive Officer Jeff Sloan said in an interview. However, Global Payments shareholders would own 52% of the new entity, which will retain the Global Payments … Norway Raises Concern Over Vaccine Jabs for the Elderly, What to Know About Vaccine-Related Deaths, Allergies, Norway Moves to Calm Vaccine Anxiety After Elderly Deaths, Vaccine Disparities Raise Alarm as Covid Variants Multiply, U.S. Equity Futures Fluctuate, Dollar Edges Higher: Markets Wrap. Last week, a deal was floated around by Global Payments that it would be acquiring Total System Services for around $20B. The company will maintain dual headquarters. Fiserv Inc. announced a $22 billion takeover of First Data Corp. in January, and rival Fidelity National Information Services Inc. agreed to buy Worldpay Inc. just two months later for $34 billion. The pandemic, thousands of people with no banking access were left without.! And payroll cards, and demand deposit accounts to the underbanked they receive a of. 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