US card payment processing giant Vantiv has agreed to purchase Worldpay in a deal which values its British peer at €10.3 billion, the pair have said today.
The announcement, which came after the two companies announced an initial agreement last month, will see Vantiv shareholders own a majority 57% of the combined group, they said in a statement.
Worldpay investors will hold the remaining 43%.
It was announced earlier this week that recently appointed Worldpay CEO Peter Jackson will be leaving the company to become CEO of betting group Paddy Power Betfair.
Worldpay is Britain's largest payment processor and sells technology to businesses so they can take payments via cards, online or on mobile devices.
Businesses which automate payments are becoming a popular takeover target with card companies, banks and technology firms all competing in the sector.
