CASH POSITIVE CHAPTER - Divide Cayman Ltd, page-220

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Trumpster101

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04/02/25

14:06

Post #: 77698588
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Originally posted by sneef: ↑

The enthusiasm is because WorldPay has this revenue and realise they can get more by offering Splitit.
SplitIt(atlanta) staff come from FIS(ohio) who partially own 45% of WorldPay, so the meetings between Ohio and Atlanta are ripe. Just 5% of the 2023 sales will give Splitit a $1.3billion revenue. Note that is just 5%....

With$4.9 billionin revenue as of 2023, Worldpay ranks as one of the largest non-bank merchant acquirers in the world processing $2.2 trillion in transactions annually.

In February 2023, in the wake of pressure from activist investors, FIS announced it would spin off its merchant business that consisted of Worldpay in the next 12 months. In July, private equity firm GTCR agreed to acquire a 55 per cent stake in WorldPay from FIS for $11.7 billion, valuing WorldPay at$18.5 billion.

With 8,500 employees, the company is headquartered in Cincinnati, Ohio with its international headquarters in London and 40 offices across 25 countries. As of February 2024 Worldpay is co-owned by GTCR with a majority ownership interest of 55% andFIS retaining a 45% ownership interest.

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As you have said yourself Mate, this relationship dates back 2+years and in that time I don't remember WorldPay posting about Splitit on LinkedIn. The enthusiasm here is very recent, the last 2-3 weeks. We need to ask what has changed to drive this and has interest within other payment players also been tweaked?

SPT Price at posting: 7.5¢ Sentiment: Hold Disclosure: Held
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CASH POSITIVE CHAPTER - Divide Cayman Ltd, page-220

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