Worldpay, valued at $10B, confirms JPMorgan and Vantiv are trying to buy it

Some consolidation is underway in the world of payment processing: WorldPay – the giant company that says it treats 31 million mobile transactions in the store every day and rivals PayPal’s preferences, stripes, squares and more on The processing of payments. the block.

Today WorldPay acquisition confirmed in a statement to the London Stock Exchange, where it is trading its shares, which has received about Vantiv and JPMorgan Chase to the US, after reports began to appear that it was the subject of acquisition speculation.

“WorldPay Group plc (” Worldpay “) takes note of recent media speculation about WorldPay and WorldPay stock price movements and confirms that it has received preliminary approaches Vantiv, Inc. (” Vantiv “) and JPMorgan Chase Bank (“JPMorgan”) in connection with the possible acquisition of the entire issued and issued capital, Worldpay, “the company said in a statement.

The WorldPay stock price rose today in the news: the stock price is now almost 30 percent to 410 pence, adding more than a billion dollars to its market capitalization compared to its opening price: in The time of publication of this post, moves to 8.6 billion pounds (about 10.6 billion).

Companies now have 28 days, or until 1 August to make a formal offer, according to the rules of the UK exchange code (the Code requiring WorldPay to disclose the names of the two companies, because His actions were already spreading rumors of his interest, and once they have released the names, an offer must be made within 28 days in order to minimize unnecessary disruption. He calls (which is actually very British).

WorldPay now competes with much more established financial firms that provide both online and physical retail payment services, but the company itself is not after this massive wave of new technology companies; Rather, it was one of the services created by a bank in place to help avoid any disruption.

Since 1989, before the first wave of dot-com, it began with a subsidiary of NatWest Bank in the UK, and eventually became a part of RBS (Royal Bank of Scotland) when the two banks .

It was later released in 2009 as part of an assignment agreement with the European Commission to help provide RBS with a bailout package for the banking crisis.

WorldPay has taken its share of all-piracy headlines from its services, but has also taken steps to position itself in what it believes this could be one of the new payment frontiers, such as the development of a prototype RV payments And security, a payment service based on smartphones that works with the contactless functionality of the camera’s chip reader and application – does not require additional hardware.

JPMorgan as buyer would be an interesting move for the bank: it has focused so far mainly on the acquisition of banks rather than payment services.

Vantiv, meanwhile, shares a previous investor with WorldPay, Advent International, and is now the largest commercial buyer in the United States.

(He also had a taste of controversy last year, the company made headlines when she pulled the payment processing and FanDuel DraftKings, citing pending legal cases against the two regarding services play money or do not).

WorldPay Vantiv help extend its reach to more markets and help JPMorgan access more differentiated online and mobile payment services. WorldPay said it serves about 400,000 customers and processes payments in 146 countries and 126 currencies.

The UK is the largest country with a market share of 40 percent of all businesses.

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