February 22, 2022
- Neil Barlow, Philip Wagman, Jeff Berman, George Kleinfeld, Howard Adler, Timothy Cornell, Daryl Fairbairn, David Walsh, Benjamin Berringer
- New York, Washington D.C.
Clifford Chance advises FIS on acquisition of fintech payments company Payrix
New York: Leading international law firm Clifford Chance has advised FIS (NYSE: FIS), a leading Fortune 500 fintech provider, on its strategic acquisition of Payrix, a fintech company that specializes in embedded payments technology, from an investor group led by Blue Star Innovation Partners, a Dallas-based investment fund, and Providence Strategic Growth, the growth equity affiliate of global asset management firm Providence Equity Partners.
Jacksonville-headquartered FIS provides technology solutions for merchants, banks and capital markets firms globally. The acquisition of Atlanta-based Payrix aims to expand FIS' strategic payments capabilities and offerings in global e-commerce. Terms of the transaction were not disclosed.
Corporate and M&A partners Gary Boss and Neil Barlow led the transaction with support from lead associate Kirsten Gaeta.
The wider team included eight practice areas and involved lawyers from New York and Washington, DC, including:
- Corporate and M&A: associate Katherine Chang and law clerk Lily Phan
- IP: counsel Daryl Fairbairn
- Tax: partner Philip Wagman
- Employment and Benefits: partner Howard Adler and associate David Walsh
- Antitrust: partner Timothy Cornell
- Cyber Security and Data Privacy: associate Benjamin Berringer
- Sanctions: partner George Kleinfeld
- Financial Regulation: partner Jeff Berman
Colleagues from the Firm's Sydney office also provided assistance on the transaction.
This transaction continues the Firm's long-standing work for FIS, including advising on its global transfer agency agreement with Franklin Templeton and on its acquisition of a majority stake in Virtus Partners.