FIS (FIS) to Spin Off Merchant Business
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FIS Announces Plans to Spin Off Merchant Business
February 13, 2023 6:58 AM ESTKey facts
Planned separation to create two market leading companies with greater strategic flexibility and operational focus to capitalize on respective growth and margin opportunities in rapidly evolving markets. Former Worldpay CEO Charles Drucker named as strategic advisor to aid with separation and ongoing business review; to be CEO of Merchant Solutions business after spin-off. FIS and Worldpay to maintain a commercial relationship, preserving a key value proposition for clients of both businesses and minimizing potential dissynergies. Management to discuss planned separation, fourth quarter and full-year 2022 earnings results on... More