Worldpay, a London-based payments processing company with U.S. headquarters in Atlanta, has agreed in principal to a nearly $10 billion buyout offer from rival processing firm Vantiv, according to reports Wednesday morning.
The Wall Street Journal and other business media said the deal would create a trans-Atlantic payments giant with a combined market value of more than $20 billion.
Worldpay had previously disclosed it had received approaches from J.P. Morgan as well as Vantiv. Both suitors have until Aug. 1 to make final offers, making it possible for J.P. Morgan to stay in the hunt, the Journal reported.
The Financial Times reported that a Worldpay-Vantiv merger could result in a dual-headquartered company in London and Cincinnati, where Vantiv is based.
Worldpay has been a major part of metro Atlanta’s burgeoning payments processing sector. Another processing company, First Data, is also based here.
Worldpay in 2014 announced it would put its U.S. headquarters and about 670 jobs at Atlantic Station, and would add 600 more jobs.
“Atlanta is the epicenter of financial services technology with access to innovative talent, infrastructure and creative business which positions us best for continued growth,” Worldpay US’s then-CEO, Tony Catalfano, said at the time.
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