Global Payments Inc. , a leading worldwide provider of payment technology and software solutions, announced that it recently completed the divestiture of its Payroll business to Acrisure for $1.1 billion.
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The divestiture of its Payroll business is the latest in a series of actions Global Payments has taken to streamline its business as part of its transformation.
The divestiture of its Payroll business is the latest in a series of actions Global Payments has taken to streamline its business as part of its transformation. The company previously closed the sale of AdvancedMD in December 2024 and earlier this year announced definitive agreements to divest its Issuer Solutions business and acquire Worldpay. These transactions enable the company to sharpen its strategic focus to better position Global Payments to become the leading pure play commerce solutions provider for merchants of all sizes.
“Closing the sale of our Payroll business is another important step in refocusing our strategy and simplifying our business,” said Cameron Bready, chief executive officer, Global Payments. “We are pleased to have delivered $500 million of additional shareholder returns through the accelerated share repurchase program we announced in August in connection with this transaction. This repurchase activity is incremental to the $7.5 billion of capital returns we are targeting between 2025 and 2027.”
“Given the timing of the divestiture, we expect there to be a modest headwind to reported adjusted net revenue growth for the merchant segment in the third quarter and roughly 100 basis point headwind for the full year,” added Josh Whipple, chief financial officer, Global Payments.
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