Investing.com -- Global Payments (NYSE: GPN ) announced on Wednesday that it plans to sell its payroll business to financial technology firm Acrisure for $1.1 billion.
The proceeds from this sale will be used to return capital to the company’s shareholders.
CEO Cameron Bready stated, "This transaction further sharpens our strategic focus and allows us to amplify investment in the markets and solutions where we are most differentiated."
In addition to this, Global Payments announced a three-way deal last month, where it will sell its issuer solutions unit to FIS (NYSE: FIS ) for $13.5 billion.
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