Fidelity National Information Services Inc., or FIS, made a big move in 2019 with its $48 billion acquisition of Worldpay Inc.
According to The Wall Street Journal, FIS was contemplating an even bigger move to end 2020.
The newspaper reported Dec. 20 that Jacksonville-based FIS was negotiating a potential $70 billion merger deal with Atlanta-based Global Payments Inc.
The Journal, citing “people familiar with the matter,” said the two companies were hoping to announce an agreement this week but negotiations broke down.
It said more talks are not imminent but the deal could be revived at a later date.
FIS provides financial technology mainly for banks, and the acquisition of Cincinnati-based Worldpay last year added payments technology used by merchants.
The addition of Global Payments would grow the merchants business significantly. Global Payments reported revenue of $5.5 billion in the first nine months of 2020.
FIS grew considerably with the Worldpay deal, increasing its revenue 32% to $9.2 billion in the first nine months of the year.
After the Worldpay deal closed in July 2019, FIS in November 2019 announced plans to build a new 12-story headquarters building near its current headquarters on Riverside Avenue in Jacksonville.
FIS said it will add 500 jobs to its 1,216 headquarters workforce as part of the project.
A merger of FIS and Global Payments would continue a wave of consolidation in the financial technology industry.
Global Payments has also been expanding. In September 2019 it completed a $22 billion acquisition of Total Systems Services Inc., or TSYS.
The Journal said a $70 billion merger of FIS and Global Payments would have been the largest deal of any business in 2020.