FIS to Acquire Clear2Pay
Banking and payments technology specialist FIS has signed a definitive agreement to acquire Brussels, Belgium-based Clear2Pay.
FIS said that the addition of Clear2Pay, which was formed in 2001, would “bolster [its] global payments capabilities across all geographies and enhance its abilities to deliver differentiated enterprise payments solutions.”
“The payments domain is one of the fastest-growing segments within the financial services industry and is a strategic growth and investment area for FIS,” said Gary Norcross, president and chief operating officer (COO), FIS. “Many institutions are struggling to adapt to the evolving global payments landscape, inclusive of high-value and cross-currency corporate payments and new channels.
“This strategic acquisition demonstrates our commitment to delivering the technologies and assets that will enable our clients, especially large and global institutions, to realise a truly modern payments environment that encompasses all customer channels, simplifies payment operations, reduces costs and provides a better customer experience.”
Clear2Pay’s chief executive officer (CEO) and chairman, Michel Akkermans, added: “The payments landscape continues to evolve to meet the next generation of customer demands. We believe the combination of these two companies will be uniquely qualified to deliver true payment systems convergence.”
Upon closing, FIS will pay approximately €375m to acquire 100% ownership interest in Clear2Pay. FIS expects the acquisition will be neutral to adjusted earnings per share (EPS) in 2014. The transaction is subject to regulatory approvals and contractual closing conditions. FIS expects the transaction to close during the fourth quarter.