Global Payments to divest Payroll business to Acrisure for $1.1B

Global Payments (GPN) announced that it has entered into a definitive agreement to divest its Payroll business to Acrisure, a financial technology company based in Grand Rapids, Michigan for total consideration of $1.1B. Global Payments intends to use the after-tax proceeds from the divestiture to return capital to shareholders while maintaining leverage neutrality. In connection with the transaction, Global Payments entered into a mutual referral agreement and long-term commercial partnership with Acrisure in which Global Payments will continue delivering fully integrated human capital management and payroll offerings to its merchant customers as part of its suite of commerce enablement solutions. The transaction is expected to close in the second half of 2025, subject to the receipt of required regulatory approvals and other customary closing conditions.