Private equity firm GTCR agreed to buy a majority stake in payments firm Worldpay from Fidelity National Information Services at a valuation of $18.5 billion, according to a statement.
"GTCR will acquire 55% of Worldpay, and [Fidelity National Information Services] will retain the remaining 45%, in a transaction that values the business at $18.5 billion," the firm said. The private equity giant is spending $11.7 billion to acquire the controlling interest in Worldpay, according to Reuters.
Fidelity National Information Services agreed to pay about $35 billion for Worldpay roughly four years ago.
Worldpay's crypto plans
The company last year announced expanded interest in cryptocurrency when Fidelity said the payment unit would allow its merchant clients to accept direct "settlement" for payments made in the USDC stablecoin.
At the time, Fidelity also said it would partner with both Circle and trading platform Crypto.com as part of the plan.
The Block contacted GTCR for comment regarding any plans for Worldpay's cryptocurrency endeavors in the wake of the deal but did not immediately receive a response.
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