FIS has closed its acquisition of global payments company Worldpay Inc (Worldpay). The combined company will have over $12 billion in pro forma revenue, alongside 55,000 employees.

As a consequence of the deal, FIS believes it is well-positioned to both accelerate its growth and become a global leader in technology and solutions for merchants, banks and capital markets. Through its best-in-class portfolio of solutions for payments, banking and capital markets FIS is also looking to influence how the world invests, pays and banks.

Key leaders from Worldpay will remain with the company, however several former Worldpay executives will also assume leadership roles at FIS.

Mark Heimbouch, former president and chief operating officer at Worldpay, will join FIS as president of the company’s Merchant Solutions division while Stephanie Ferris, former chief financial officer at Worldpay, will begin a new role at FIS as its chief operating officer. Charles Drucker, former chairman and chief executive officer, will have a seat on the FIS board of directors as vice chairman.

Commenting on the acquisition, FIS Chairman, President and CEO Gary Norcross said: “This is an exciting day for FIS and Worldpay, and for the industry as a whole This transformative combination significantly enhances the scale, portfolio and global footprint of FIS to help our clients capitalize on growth opportunities at a time of rapid marketplace change.”

Rivka Gewirtz Little, research director, Global Payment Strategies at IDC Financial Insights believed that the move was important for FIS in a rapidly evolving industry.

She said: “The global payments industry is moving at an accelerated speed and it is vital that large providers such as FIS stay ahead. The combination of FIS and Worldpay enhances FIS’ overall acquiring and payment offerings, positioning the company to offer best-in-class enterprise banking, payments, capital markets, and global eCommerce capabilities to financial institutions and businesses worldwide.”