![[Global] Global Payments announces $1.1bn sale of payroll business](http://gpa.net/cdn/shop/articles/bigstock-The-Concept-Of-Business-Techn-409883500_2_c207925c-674e-4fb0-84e6-d9bce917f51f_1200x.jpg?v=1748649001)
Technology and software solutions provider Global Payments Inc. has announced that it has entered into a definitive agreement to divest its Payroll business to Acrisure, a Michigan-based financial technology company, for a total consideration of $1.1 billion, Silicon reports.
Global Payments has stated that it intends to use the after-tax proceeds from the divestiture to return capital to shareholders while maintaining leverage neutrality.
The sale reportedly represents Global Payments' latest step in simplifying its business and positioning the company as a leading pure-play commerce solutions provider for merchants of all sizes.
In addition, Global Payments recently announced agreements to divest its Issuer Solutions business and acquire Worldpay, as part of the transformation program outlined at its September 2024 Investor Conference, and closed its sale of AdvancedMD.
“I am pleased with the progress we are making with our transformation program as we move aggressively to simplify our business and enhance value for shareholders,” Cameron Bready - CEO of Global Payments - said. “This transaction further sharpens our strategic focus and allows us to amplify investment in the markets and solutions where we are most differentiated, while also positioning the payroll business to benefit from greater scale and investment moving forward.”
In connection with the transaction, Global Payments has reportedly entered into a mutual referral agreement and long-term commercial partnership with Acrisure in which Global Payments will continue to deliver fully integrated HCM and payroll offerings to its merchant customers as part of its suite of commerce enablement solutions.
The transaction is reportedly expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions.
Source: Silicon
(Quote via original reporting)
Technology and software solutions provider Global Payments Inc. has announced that it has entered into a definitive agreement to divest its Payroll business to Acrisure, a Michigan-based financial technology company, for a total consideration of $1.1 billion, Silicon reports.
Global Payments has stated that it intends to use the after-tax proceeds from the divestiture to return capital to shareholders while maintaining leverage neutrality.
The sale reportedly represents Global Payments' latest step in simplifying its business and positioning the company as a leading pure-play commerce solutions provider for merchants of all sizes.
In addition, Global Payments recently announced agreements to divest its Issuer Solutions business and acquire Worldpay, as part of the transformation program outlined at its September 2024 Investor Conference, and closed its sale of AdvancedMD.
“I am pleased with the progress we are making with our transformation program as we move aggressively to simplify our business and enhance value for shareholders,” Cameron Bready - CEO of Global Payments - said. “This transaction further sharpens our strategic focus and allows us to amplify investment in the markets and solutions where we are most differentiated, while also positioning the payroll business to benefit from greater scale and investment moving forward.”
In connection with the transaction, Global Payments has reportedly entered into a mutual referral agreement and long-term commercial partnership with Acrisure in which Global Payments will continue to deliver fully integrated HCM and payroll offerings to its merchant customers as part of its suite of commerce enablement solutions.
The transaction is reportedly expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions.
Source: Silicon
(Quote via original reporting)