Based in the US, Heartland Payment Systems offers credit/debit/prepaid card processing and security technology through Heartland Secure and its Heartland breach warranty.
Heartland also offers point of sale, mobile commerce, e-commerce, marketing solutions, payroll solutions, and related business solutions and services to more than 300,000 business and educational locations nationwide.
With around 4,500 employees, Global Payments provides payment technology services to customers in 29 countries throughout North America, Europe, the Asia-Pacific region and Brazil.
Upon completion of the deal, Global Payments will have an expanded merchant base and vertical reach to serve small and medium-sized enterprises in the US.
The company will combine Heartland’s expertise in technology solutions with its OpenEdge partner integration, network and marketing capabilities to accelerate revenue growth.
The combined company will provide payments solutions to nearly 2.5 million merchants globally.
Global Payments CEO Jeffrey S. Sloan said: "This partnership with Heartland marks a major milestone for our company, significantly enhancing our direct presence in our largest market and transforming Global Payments into the leading provider of integrated payments technology solutions in the world.
"The combination of strong businesses and cultures in high growth markets will generate exceptional opportunities for our employees, customers, partners and shareholders worldwide."
Both the companies will combinedly generate over $3bn in adjusted net revenue and $1bn of EBITDA annually.
Global Payments’ existing shareholders will hold a 84% stake in the combined company.
