Global Payments is selling its payroll business to Acrisure for a hefty $1.1 billion. This move is aimed at enhancing Global Payments’ focus as a pure-play commerce solutions provider, allowing them to invest more in key areas that set them apart in the marketplace. Acrisure, a FinTech based in Michigan, offers various financial services including insurance and payroll.
Key Points
- Global Payments sells payroll business to Acrisure for $1.1 billion.
- The sale is part of a strategy to streamline operations and sharpen focus on commerce solutions.
- Acrisure is a FinTech that provides a multitude of financial services including payroll and insurance.
- The transaction will enhance Global Payments’ ability to invest in core areas and improve operations.
- The deal is expected to close in the second half of 2025, subject to regulatory approvals.
- A mutual referral partnership will allow Global Payments to continue providing payroll services to its clients.
Why should I read this?
If you’re keeping an eye on shifts in the FinTech landscape, this is one to watch. Global Payments’ significant divestiture reflects broader trends in the industry regarding focus and specialisation. This move not only impacts Global Payments but could also influence market dynamics, especially how companies position themselves in an increasingly competitive environment. Save yourself the trouble of digging deeper, we’ve done it for you!