The agreement came a day after shares in the British Firm soared more than 25% when said it had received approaches from both Vantiv and J.P. Morgan(jpm) , though the U.S. bank said on Wednesday it does not plan to make an offer.
If the deal goes through, Worldpay shareholders will own about 41% of the new company, with the British firm delisted from London's stock market.
Vantiv Chief Charles Drucker and Worldpay CEO Philip Jansen will jointly run the new company.
The deal comes less than two years after Worldpay was listed in London in late 2015 , when it was valued at 4.8 billion pounds.
While banks have been trying to develop and buy more sophisticated technology, payment service companies like PayPal(pypl) and Worldpay gained a large part of the market share during the e-commerce boom.
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