Merger Update: FIS / TSYS

Start of CMA Merger Investigation: Anticipated acquisition by Fidelity National Information Services, Inc. of Total System Services LLC. 

The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that merger may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

The CMA announced the launch of its merger inquiry by notice to the Parties on 28 October 2025 and has a deadline of 24 December 2025 for its phase 1 decision.