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MarketScreener Homepage  >  Equities  >  Nyse  >  Global Payments    GPN

GLOBAL PAYMENTS

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Global Payments : nearing $20 billion deal to buy Total System - source

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05/24/2019 | 02:46pm EDT

(Reuters) - Payment technology company Global Payments Inc is nearing a deal to acquire peer Total System Services Inc (TSYS) for about $20 billion(15.74 billion pounds) in an all-stock deal, a source familiar with the matter said on Friday.

The transaction, which the source said could be announced as soon as Tuesday, is the latest large-scale consolidation effort by payments technology companies as industry players seek domination when spending is increasingly cashless.

Both companies' stock prices jumped on news of a potential deal: by mid-afternoon on Friday, Global Payments had risen 3.4% and TSYS gained 11.4%.

Global Payments and TSYS did not immediately respond to requests for comments.

Bank of America is advising Global Payments on the deal and will also lead refinancing of the combined debt, the source added.

Bloomberg on Friday, citing people familiar with the matter, the potential timing of the transaction and Bank of America's role.

The financial technology sector is consolidating fast, with global payments set to reach $3 trillion a year in revenue by 2023 as more people switch from cash to digital payments for online and high street sales, consulting firm McKinsey predicts.

Fidelity National Information Services Inc (FIS) said in March it has agreed to buy Worldpay for about $35 billion, after Fiserv Inc announced in January that it was buying First Data Corp for $22 billion.

(Reporting by Greg Roumeliotis in New York; Additional Reporting by Aparajita Saxena and Rishika Chatterjee in Bengaluru; editing by Anil D'Silva and Grant McCool)

Stocks mentioned in the article
ChangeLast1st jan.
GLOBAL PAYMENTS 0.67% 159.95 Delayed Quote.53.99%
TOTAL SYSTEM SERVICES 0.68% 128.13 Delayed Quote.56.56%
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Financials ($)
Sales 2019 4 468 M
EBIT 2019 1 454 M
Net income 2019 598 M
Debt 2019 3 320 M
Yield 2019 0,03%
P/E ratio 2019 42,98
P/E ratio 2020 33,71
EV / Sales 2019 6,40x
EV / Sales 2020 5,96x
Capitalization 25 292 M
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 165 $
Spread / Average Target 2,6%
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Managers
NameTitle
Jeffrey Steven Sloan Chief Executive Officer & Director
William I. Jacobs Chairman
Cameron M. Bready Chief Financial Officer & Senior EVP
Guido Francesco Sacchi Chief Information Officer & Executive VP
Alan M. Silberstein Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
GLOBAL PAYMENTS53.99%23 400
FISERV INC21.38%32 447
FIRST DATA CORP57.13%23 234
FLEETCOR TECHNOLOGIES46.81%21 572
WIRECARD12.54%20 189
PAGSEGURO DIGITAL LTD89.75%10 294