Global Pmts Inc - GPN STOCK NEWS

Rêv Worldwide and Global Payments (GPN) have announced a definitive agreement for Rêv to acquire the Netspend consumer business from GPN in an all-cash deal valued at $1 billion. This acquisition revives the involvement of Netspend’s founders, Roy and Bertrand Sosa, aiming to leverage strategic assets for growth in the consumer financial services market.

The transaction, expected to close in Q1 2023, allows Global Payments to focus on its core B2B operations. The global prepaid cards market is projected to grow from $1.6 trillion in 2020 to $2.7 trillion by 2026.

Global Payments Inc. (GPN) reported second-quarter 2022 results with revenues of $2.28 billion, up from $2.14 billion year-over-year. Adjusted net revenues increased 6.1% to $2.06 billion. The company announced a $4.0 billion acquisition of EVO Payments, a $1.5 billion strategic investment from Silver Lake, and a $1.0 billion sale of Netspend's consumer assets. For 2022, constant currency adjusted net revenue growth is projected at 10-11%, with adjusted earnings per share expected to rise 17-20%. A dividend of $0.25 per share was approved, payable September 30, 2022.

Global Payments (NYSE: GPN) announced its acquisition of EVO Payments (NASDAQ: EVOP) in an all-cash transaction valued at $34.00 per share, totaling $4.0 billion. This strategic acquisition, approved by both boards, aims to enhance Global Payments' reach in integrated and B2B payments, expanding its customer base to over 4.5 million merchants and 1,500 financial institutions globally. Expected synergies include $125 million in run-rate savings and accretion in the first year post-close, anticipated by Q1 2023.

Global Payments Inc. (NYSE: GPN) will release its second quarter 2022 financial results before the market opens on August 1, 2022.

Management will host a live audio webcast at 8:00 a.m. EDT on the same day to discuss these results. Interested parties can access it on the investor relations page of the company's website. Global Payments, a Fortune 500 company, delivers innovative software and services globally with a workforce of approximately 25,000 across over 170 countries.

Global Payments Inc. (NYSE: GPN) announced the retirement of Chief Financial Officer Paul M. Todd, effective June 30, 2022. Josh J. Whipple, previously Senior Executive Vice President and Chief Strategy and Enterprise Risk Officer, will take over as CFO beginning July 1, 2022. Todd contributed to the successful merger between TSYS and Global Payments and will remain as a senior advisor for a smooth transition. CEO Jeff Sloan praised both Todd's and Whipple's leadership, emphasizing their contributions to Global Payments' growth and technological advancements.

Global Payments Inc. (NYSE: GPN), a top provider of payment technology, will have its President and COO, Cameron Bready, present at the J.P. Morgan Global Technology, Media and Communications Conference on May 23, 2022, at 11:20 a.m. ET. Interested participants can access a live webcast through the company's investor relations website. Global Payments operates globally, has about 25,000 team members, and serves customers in over 170 countries.

Global Payments Inc. (NYSE: GPN) announced that CEO Jeff Sloan will present virtually at the Barclays Emerging Payments and Fintech Forum on May 16, 2022, at 10:00 a.m. ET. Interested parties can access the live webcast through the company’s investor relations website, with a replay available afterward. Headquartered in Georgia, Global Payments is a leading provider of payment technology and services, operating in over 170 countries worldwide.

Bakkt Holdings, Inc. (NYSE: BKKT) and Global Payments (NYSE: GPN) have formed a strategic alliance to enhance digital asset utilization. This collaboration will enable cryptocurrency redemption in loyalty programs for bankcard clients and expand banking-as-a-service offerings. Additionally, Bakkt aims to partner with Global Payments for multinational merchant payment acceptance. This alliance is expected to amplify consumer spending and strengthen loyalty programs within the digital assets ecosystem.

Global Payments reported strong Q1 2022 results with revenues of $2.16 billion, up from $1.99 billion YoY. Diluted EPS rose to $0.87, up from $0.66, while adjusted revenues increased 8%. The company signed a significant letter of intent with Caixabank, potentially doubling its implementation pipeline. The outlook for 2022 remains positive, with projected adjusted net revenue growth of 9% to 10% and adjusted EPS anticipated to rise by 16% to 19%. A dividend of $0.25 per share was approved for June 2022.