Two leading payment technology companies are to enter into a merger which will have a combined stock and cash value of $43 billion.

US-based FIS, a global leader in FinTech, and Worldpay will retain the name FIS and will be headquartered in Florida.

The new company anticipates $500 million of revenue synergies, $400 million of run-rate expense synergies and nearly $4.5 billion of free cash flow in three years.

The companies told their clients that the merger will allow combined omni-channel payment and multi-currency capabilities, robust risk and fraud solutions and advanced data analytics.

This is the second time Worldpay has been acquired, having originally spun out of Britain’s Royal Bank of Scotland as a condition of its bailout during the financial crisis.

The transaction is subject to receipt of required regulatory and shareholder approvals and other customary closing conditions and is expected to close in the second half of 2019.

“At Worldpay, our focus has always been on delivering more value to our clients and partners and making decisions that achieve our growth and performance objectives," said Charles Drucker, executive chairman and CEO at Worldpay.

“Combining with FIS helps us accelerate the achievement of that, now benefitting from new scale and capabilities that will truly differentiate the company globally."

Upon closing, the combined company's board of directors will consist of 12 members, seven of which will come from FIS' board of directors and five of which will come from Worldpay's board of directors.

Drucker will serve as the executive vice chairman of the noard. Gary Norcross will remain as FIS chairman of the board, president and CEO.

"Scale matters in our rapidly changing industry," added Norcross. “Upon closing later this year, our two powerhouse organisations will combine forces to offer a customer-driven combination of scale, global presence and the industry's broadest range of global financial solutions.

“As a combined organisation, we will bring the most modern solutions targeted at the highest growth markets.

"The long-term value we will create for clients and for shareholders will set the bar in our industry and will create a range of new career opportunities for our employees. I have never been more excited about the future of FIS."