Global Payments to acquire EVO in $4 bln deal to boost B2B segment
Summary
Aug 1 (Reuters) - Global Payments Inc (GPN.N) said on Monday it would buy smaller peer EVO Payments Inc (EVOP.O) for nearly $4 billion including debt, as the fintech firm seeks to expand its footprint in the business-to-business (B2B) space. EVO shares, up nearly 20% in premarket trading, would open at a record-high, if gains hold. The deal would give Georgia-based Global Payments access to new markets including Poland, Germany, Chile and Greece and also help scale-up its business in existing markets such as the United States and Canada, the company said. EVO has a sizable presence in Europe which accounted for nearly 40% of its revenue in the first three months this year. Global Payments said it would also receive a $1.5 billion investment from private equity firm Silver Lake in the form of convertible notes.
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