FIS, Global Payments Held Unsuccessful Talks to Merge

By Cara Lombardo and Dana Cimilluca

Fidelity National Information Services Inc. and Global Payments Inc. recently held unsuccessful talks for a merger deal that could have been valued at around $70 billion, people familiar with the matter said, in a sign that a wave of consolidation is still sweeping through the payments industry.

The companies, which make technology that facilitates merchant payments and banking, were in advanced talks and aiming to announce a deal this coming week before the negotiations broke down in the last few days, the people said. It couldn't be learned what specifically caused them to falter.

Had the companies managed to strike a deal, it would have been the biggest of the year by far, eclipsing several transactions valued at about $40 billion, according to Dealogic. Global Payments has a market capitalization of nearly $59 billion. Fidelity National, widely known as FIS, has a market value of around $90 billion.

Though there is little prospect of the talks coming back to life imminently, they could get revived later, some of the people said.

--Peter Rudegeair contributed to this article.

(END) Dow Jones Newswires

December 20, 2020 13:17 ET (18:17 GMT)

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