International payments technology integration company EVO Payments has had cause to celebrate its accomplishments over the last several years. Working to integrate purchases and acquisitions in more than 150 currencies, the Atlanta-based fintech boasts an impressive 550,000 international merchant partners in 50 international markets.
As of August 1, the company has one more feather in its cap: its $4 billion acquisition by payment technology superstar Global Payments. The offer equates to $34 per share of EVO’s stock, and is expected to greatly expand the company’s footprint throughout Europe.
“The acquisition of EVO is highly complementary to our technology-enabled strategy and provides meaningful opportunities to increase scale in our business globally,” said Global Payments’ President and Chief Operating Officer, Cameron Brady. Brady went on to describe the deal as a major step forward for both companies, adding, “Together with EVO, we are positioned to deliver an unparalleled suite of distinctive software and payment solutions to our combined 4.5 million merchant locations and more than 1,500 financial institutions worldwide.”
Expected to be completed in early 2023, the deal gives the combined entity a net revenue of $9.8 billion.