Posted July 5, 20177 yr Vantiv makes huge overseas acquisition to combat Amazon Vantiv Inc., the Greater Cincinnati company that’s one of the nation’s biggest payment processors, has reached a deal to buy a British payment processor in a move some experts view as a bid to combat potential lost sales as a result of Amazon.com’s growth. Symmes Township-based Vantiv (NYSE: VNTV), agreed to pay 7.7 billion pounds, which comes to $9.9 billion, for London-based Worldpay Group. Worldpay processes payments for small businesses and e-commerce companies. The two companies are still working out other details, and Vantiv can still opt to change its offer, the companies said. The move also affects Vantiv CEO Charles Drucker’s status. Terms of the deal call for the 53-year-old Drucker to become co-CEO along with Worldpay’s Philip Jansen. Vantiv CFO Stephanie Ferris will remain CFOonce the deal is completed. Cont "It's just fate, as usual, keeping its bargain and screwing us in the fine print..." - John Crichton
July 5, 20177 yr Vantiv merger could vault it onto the Fortune 500 Vantiv has struck a tentative $10 billion deal to take over British-based rival Worldpay, the companies announced Wednesday. The credit and debit card processing companies said in a joint statement that they had "reached an agreement in principle on the key terms of a potential merger" though no official offer has been made and that talks remain ongoing. Under British laws on takeovers, a deal has to be concluded by Aug. 1. If the deal goes through, it puts Vantiv within striking distance of becoming the Cincinnati region's next Fortune 500 company. The deal would combine Vantiv's $3.6 billion in annual revenues with Worldpay's $1.5 billion. Cont "It's just fate, as usual, keeping its bargain and screwing us in the fine print..." - John Crichton
July 5, 20177 yr Look for renewed calls for a non-stop CVG to London flight if this goes through. “All truly great thoughts are conceived while walking.” -Friedrich Nietzsche
July 5, 20177 yr THis may actually do it. With Vantiv and Ashland and GE with strong British operations I could see the CVG to Gatwick flight starting up again.
March 18, 20196 yr So much for the idea that Worldpay would be Cincinnati's next Fortune 500 company... Cincinnati public company to be sold for $43 billion Worldpay Inc. (NYSE: WP) will be acquired by Jacksonville, Fla.-based financial services technology firm FIS (NYSE: FIS), the companies announced Monday morning. The combined company will retain the FIS name and be headquartered in Jacksonville. Worldpay executive chairman and CEO Charles Drucker will serve as its executive vice chairman of the board, while FIS chairman, president and CEO Gary Norcross will retain his roles. Its board will consist of 12 members with seven from FIS and five from Worldpay.
February 15, 20232 yr FIS is spinning off WorldPay undoing the acquisition they made several years ago. I believe they maintained a significant presence at the former WorldPay HQ so I’m not sure what impact if any of this will have on Cincinnati https://www.businesswire.com/news/home/20230213005223/en/FIS-Announces-Plans-to-Spin-Off-Merchant-Business
February 15, 20232 yr It would make sense to have it located back here. FIS has the Worldpay operations in Mason still. Drucker who is the CEO of the new company was the old CEO of Vantiv when it was sold and he kept his office in Cincinnati after the acquisition. Most of the old Vantiv/Worldpay execs who hung around after the merger still kept their offices in Cincinnati. I bet the corporate HQ does come to Cincinnati. I would assume that there will be zero jobs relocating with it since they are pretty much all here already, but still it is nice to gain the HQ of a Fortune 1000 company
February 15, 20232 yr https://www.bizjournals.com/cincinnati/news/2023/02/15/worldpay-to-become-separate-firm-after-fis-spinoff.html
February 16, 20232 yr I wonder what kind of presence they still have in London/UK And if the new flight on British Airways could impact the decision to Locate the headquarters in Cincinnati As from the business journals article, it doesn’t seem like it’s a definite
February 16, 20232 yr 13 hours ago, preservationrestoration said: I wonder what kind of presence they still have in London/UK And if the new flight on British Airways could impact the decision to Locate the headquarters in Cincinnati As from the business journals article, it doesn’t seem like it’s a definite They do still have a large European presence and London office. This may help convince BA to add a few additional flights per week to the Heathrow route. While it is not definite the HQ will go to Cincy, it is like the GE spinoff. While nothing was official until it was announced, Cincy was the strong leader for the HQ simply because of infrastructure. Same applies to Worldpay. Worldpay has their largest concentration of operations in Cincinnati and most of their executive team is already here. Drucker the CEO never moved from Cincinnati so it only makes sense they would come back once the spinoff is complete.
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