Global Payments will buy Total System Services in an all-stock deal valued at $21.5 billion, the third major acquisition in the payment technology sector this year.
Traditional payment processors like Global Payments are consolidating as they compete increasingly with upstarts like PayPal and Square, which is led by Twitter co-founder Jack Dorsey.
In March, Fidelity National Information Services said it would buy Worldpay for about $35 billion. In January, Fiserv bought First Data in a $22 billion all-stock deal.
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May 31, 2019