Global Payments To Acquire EVO For $34.00/shr

(RTTNews) - Global Payments Inc. (GPN), and EVO Payments, Inc. (EVOP) announced that Global Payments will acquire EVO in an all-cash transaction for $34.00 per share. Headquartered in Atlanta, GA, EVO Payments is a payment technology and services provider.

Global Payments expects the transaction to deliver $125 million of run-rate synergies and be accretive in the first year after close. The acquisition is expected to close no later than the first quarter of 2023. The company said the transaction will expand its geographic footprint into attractive new geographies such as Poland, Germany, Chile, and Greece.

Separately, Global Payments said its Board approved a dividend of $0.25 per share payable September 30, 2022 to shareholders of record as of September 16, 2022, and authorized an increase of the company's share repurchase program to a total available authorization of $1.5 billion.