FIS, the world’s largest provider of banking and payments technology solutions and a global leader in consulting and outsourcing solutions, has signed a definitive agreement to acquire Brussels-based Clear2Pay. Upon closing, the addition of Clear2Pay will bolster FIS’ global payments capabilities across all geographies through the addition of new payments managed services and payments processing utilities that will 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,” noted Gary Norcross, president and chief operating officer, 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 realize a truly modern payments environment that encompasses all customer channels, simplifies payment operations, reduces costs and provides a better customer experience.”
Founded in 2001, Clear2Pay is a Brussels-based, global provider of innovative payments technologies and services for secure, timely and streamlined payments processing. The company is recognized as one of the most innovative players in the payments technology domain and has a strong blue chip client base of top global financial institutions in Western Europe, Asia Pacific and the Americas.
Commenting on the transaction, Michel Akkermans, chief executive officer and chairman, Clear2Pay, said, “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.”
Clear2Pay founder Jurgen Ingels affirmed this position, stating, “After launching Clear2Pay and helping guide its impressive growth for the last 13 years, I am pleased to see such a positive development for our people, our clients and the industry.”
Upon closing, FIS will pay approximately €375 million to acquire 100% ownership interest in Clear2Pay. FIS expects the acquisition will be neutral to adjusted earnings per share in 2014. The transaction is subject to regulatory approvals and contractual closing conditions. FIS expects the transaction to close during the fourth quarter.