Global Payments Sells Payroll Business for $1.1 Billion to Acrisure

Global Payments Inc. has announced the sale of its payroll business to Acrisure for 1.1 billion dollars. This strategic move is part of the company's efforts to streamline its business model and return capital to shareholders. The transaction, which is expected to be completed in the coming months, will allow Global Payments to focus on its core strengths and enhance its competitive position in the market.

The company's CEO, Cameron Bready, highlighted that this deal will enable them to concentrate on their core competencies and drive growth in their primary business segments. The proceeds from the sale will be used to return capital to shareholders, demonstrating the company's commitment to maximizing shareholder value. This transaction is a significant step in Global Payments' strategic realignment, as it seeks to optimize its portfolio and enhance its operational efficiency.

The sale of the payroll business is expected to have a positive impact on the company's financial performance, as it will allow Global Payments to allocate resources more effectively and pursue growth opportunities in its core areas. The company's decision to sell the payroll business reflects its long-term strategy to focus on high-growth segments and divest non-core assets. This move is part of a broader trend in the industry, where companies are increasingly looking to streamline their operations and focus on their core competencies.

As part of a three-way transaction announced last month, Global Payments will also sell its card issuer solutions division to FIS for 13.5 billion dollars. This division provides card processing and account services. The sale of the payroll business is expected to be completed in the coming months, subject to regulatory approvals and other customary closing conditions. The transaction is a significant development for both Global Payments and Acrisure, as it represents a strategic shift in the payroll services market. The sale will allow Acrisure to expand its offerings and strengthen its position in the payroll services industry. For Global Payments, the transaction will enable the company to focus on its core strengths and drive growth in its primary business segments. The company's decision to sell the payroll business is a clear indication of its commitment to maximizing shareholder value and optimizing its portfolio.