Vantiv, Inc. (NYSE: VNTV)London-based Worldpay was set up in 1989 and has 4,500 employees processing around 31 million mobile, online, and in store transactions each day. They have gained quite a large market share as consumers adopted cashless transactions and online shopping. Worldpay’s e-commerce business is wanted especially outside of the United States where they support 400,000 merchants in 126 currencies across 146 countries.
Today, U.S. credit card processor Vantiv acquired Britain’s Worldpay for 7.7 billion pounds ($10 billion) hoping to generate further deals. These payment companies are wanted most from credit card companies and banks wanting to capitalize on a switch from cash transactions to paying by mobile devices such as smartphones.
Worldpay’s shares roles by almost 28 percent yesterday when they announced Vantiv’s and JPMorgan’s moves, JPMorgan being Worldpay’s corporate broker.
Announced today, Vantiv will pay 55 pence in cash, 0.0672 of a new Vantiv share as well as a 5 pence cash dividend per Worldpay share equaling to 385 pence per share. Worldpay’s shareholders will own about 41 percent of the new company.