FIS, a US-based provider of banking and payments technology solutions, has signed a definitive agreement to acquire Belgium-based payments technology firm Clear2Pay for about EUR375 million.
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Established in 2001, Clear2Pay is a provider of payments technologies and services for secure, timely and streamlined payments processing.
FIS believes that the acquisition will strengthen its global payments capabilities across all geographies through the addition of new payments managed services and payments processing utilities that will enhance its abilities to deliver differentiated enterprise payments solutions.
Gary Norcross, president and COO of FIS, said: "This strategic acquisition demonstrates our commitment to delivering the technologies and assets that will enable our clients, especially large and global institutions, to realize a truly modern payments environment that encompasses all customer channels, simplifies payment operations, reduces costs and provides a better customer experience."
Michel Akkermans, CEO and chairman of Clear2Pay, said: "The payments landscape continues to evolve to meet the next generation of customer demands. We believe the combination of these two companies will be uniquely qualified to deliver true payment systems convergence."
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By GlobalDataSubject to regulatory approvals and contractual closing conditions, the transaction is expected to close during the fourth quarter. FIS expects the acquisition will be neutral to adjusted earnings per share in 2014.
