Fidelity National Information Services, Inc. agreed to Spin-Off Merchant Solutions business on February 13, 2023. FIS shareholders will receive a pro rata distribution of shares of Worldpay stock in a transaction that is expected to be tax-free to FIS and its shareholders for U.S. federal income tax purpose. Upon completion of the proposed spin-off, the Merchant Solutions business will operate as Worldpay. The business had $4.8 billion of revenue and $2.3 billion of Adjusted EBITDA in 2022. Charles Drucker named as strategic advisor to aid with separation and ongoing business and will serve as CEO of Worldpay. Following the separation, Stephanie Ferris will continue to serve as chief executive officer of FIS with FIS headquarters remaining in Jacksonville, FL. The proposed separation is subject to customary conditions, including final approval by the FIS Board of Directors, receipt of a tax opinion and a private letter ruling from the Internal Revenue Service, the filing and effectiveness of a Form 10 registration statement with the U.S. Securities and Exchange Commission and obtaining of all required regulatory approvals. FIS is planning for the separation to be completed by early 2024. Charles Drucker is appointed as a strategic advisor, and upon successful completion he will serve as Chief Executive Officer of Worldpay. JPMorgan Chase & Co. (NYSE:JPM) acted as Financial advisor and fairness opinion provider to Fidelity National Information Services, Inc.

Fidelity National Information Services, Inc. cancelled the Spin-Off Merchant Solutions business on March 29, 2024.