[Global] Global Payments explores divesting payroll and Active Network businesses

Global Payments is exploring the sale of its payroll and Active Network businesses after a strategic review, MSN reports.

According to Bloomberg reporting, citing people familiar with the matter, the company has hired financial advisers to find buyers for the assets.

It is unclear how much the company would get for the businesses, the report said. Global Payments bought Active Network assets for around $1.2 billion in 2017.

No final decision has been made and the company could reportedly choose to retain one or both businesses.

At Global Payments’ investor day in September, management stated that the company was intending to divest businesses that produce $500-$600 million of revenue. 

GPN reportedly targets returning $7.5 billion to shareholders over the next three years. Around $2 billion+ is allocated to share repurchases annually.

The majority of Global Payments revenue derives from helping merchants process payments. The payrolls unit supports organisations with payroll and HR services while its Active Network unit provides payment services to businesses including event organisers and health and fitness providers.

Source: MSN

(Link via original reporting)

Global Payments is exploring the sale of its payroll and Active Network businesses after a strategic review, MSN reports.

According to Bloomberg reporting, citing people familiar with the matter, the company has hired financial advisers to find buyers for the assets.

It is unclear how much the company would get for the businesses, the report said. Global Payments bought Active Network assets for around $1.2 billion in 2017.

No final decision has been made and the company could reportedly choose to retain one or both businesses.

At Global Payments’ investor day in September, management stated that the company was intending to divest businesses that produce $500-$600 million of revenue. 

GPN reportedly targets returning $7.5 billion to shareholders over the next three years. Around $2 billion+ is allocated to share repurchases annually.

The majority of Global Payments revenue derives from helping merchants process payments. The payrolls unit supports organisations with payroll and HR services while its Active Network unit provides payment services to businesses including event organisers and health and fitness providers.

Source: MSN

(Link via original reporting)