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Worldpay soars amid takeover interest from Vantiv, JPMorgan

04 July 2017

Worldpay, once part of Royal Bank of Scotland Group PLC, builds and runs the systems that allow retailers to take a customer's card details and ensure their transaction is captured, authorized, processed and settled.

Global payments processor Worldpay saw its value surge by £2bn as it confirmed it had received competing takeover approaches from Wall Street giant JP Morgan and United States rival Vantiv.

Shares in the company surged 70p to 389.7p, as analysts at Mediobanca Securities suggested technology titans Google (GOOGL.O), Amazon (AMZN.O) and Apple (AAPL.O) could join the fray.

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Automated payments providers are a popular target at the moment with Danish payment services provider Nets A/S (NETS.CO) revealing at the weekend it had also received bid approaches.

The company reported a £2.4m pre-tax profit for 12 months to 30 April, compared with a £29.4m loss in the previous year.

Worldpay's stock value rocketed during morning trading on the London Stock Exchange (LSE), valuing the company at more than £7 billion.

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After partnering with over 150 gambling operators, including numerous online casinos, Worldpay accrued extensive regulatory experience in the sector.

Worldpay has enjoyed similar success when it comes to handling airline payments and in facilitating B2B digital content including SaaS and online publishing.

Based in London, Worldpay has become a dominant force in the United Kingdom with 5,000 employees and responsibility for handling 40% of all transactions conducted within the country.

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The acquisition of Worldpay would be an important move within this area, as the company is a staple of small and medium sized businesses, such as pubs.

Worldpay soars amid takeover interest from Vantiv, JPMorgan