Global Payments is set to divest its payroll software division for a hefty $1.1 billion to Acrisure, a software firm, as it pivots towards focus on merchant services. This strategic move comes on the heels of the company’s previous divestitures aimed at streamlining operations.
Key Points
- Global Payments to sell its payroll services to Acrisure for $1.1 billion.
- The deal includes a commercial agreement allowing Global Payments to continue offering payroll services to its clients.
- The payroll division will be rebranded as part of the acquisition process.
- Global Payments is focusing on its core competency of merchant payment services.
- Acrisure aims to enhance its suite of services for small and mid-sized business clients through this acquisition.
- The sale aligns with Global Payments’ strategy to divest non-core businesses generating significant revenue.
Why should I read this?
If you’re into fintech or payments, this news is pivotal! Global Payments is reshaping its future, giving insight into industry trends like consolidation and focused strategies. Read on to see how these shifts could impact the broader market and possibly your investments or business strategies.