Vantiv, Worldpay agree terms on £9.3bn merger

Payment provider Worldpay and its US rival Vantiv have agreed terms on a deal to merge and create a combined operation worth approximately £9.3bn (£12.1bn/€10.3bn).

Last month, the two companies entered into a preliminary agreement, and have now secured a deal whereby Vantiv shareholders will hold a majority 57% of the combined business and Worldpay investors the other 43%.

Vantiv will pay 397p for each Worldpay share – equal to £8bn – in addition to £1.3bn to cover debts.

In a statement picked up by the BBC, Worldpay said: “The combination of scale and presence the merger will bring is an exciting step in the creation of a truly global leader in payments.”

Worlpay, which cites regulated gambling as one of its five key verticals, is active worldwide, but has a particularly strong presence in the UK and US.

Vantiv is mainly focused on the US market, where it supports merchants, banks and credit unions with car payments.

The newly combined company will base its global and corporate headquarters in Cincinnati, Ohio, in the US, and locate its international headquarters in London, England.

Related article: Vantiv makes £9.1bn bid for Worldpay