FIS, a global leader in financial technology, completed the previously announced sale of a majority stake in its Worldpay Merchant Solutions business to private equity funds managed by GTCR in a transaction valuing the business at an enterprise value of $18.5 billion, including $1 billion of consideration contingent on the returns realized by GTCR exceeding certain thresholds.

As part of the deal, FIS received upfront net proceeds of approximately $11.7 billion while retaining a 45% ownership interest in Worldpay.