By Alex V 
Global Payments divests its payroll division to US insurance giant Acrisure, signaling a strategic shift in fintech operations and renewed focus on core digital payment services.
Global Payments Inc., a leading player in the payments technology sector, has announced an agreement to sell its payroll business to insurance and fintech giant Acrisure for $1.1 billion. The all-cash deal, reported Friday, marks a significant move in the evolving fintech landscape, as both companies realign to sharpen their respective business focuses.
Global Payments’ Strategic Divestment: Who, What, Why
Global Payments Inc. (NYSE: GPN), headquartered in Atlanta, revealed on June 21 it will offload its cloud-based payroll solutions arm—formerly Heartland Payroll—to Acrisure, a Michigan-based financial services and insurance conglomerate. The transaction, valued at $1.1 billion and expected to close in the second half of 2024, allows Global Payments to streamline operations and bolster its core digital payments and business management offerings.
“We continuously review our portfolio to optimize for sustainable growth and profitability. This sale further sharpens our focus on digital payments and integrated business solutions, driving shareholder value,” said Cameron Bready, President and CEO of Global Payments, in a press statement.
Deal Details: What’s Included and Who Benefits
What is Heartland Payroll?
The business included in the sale is Heartland Payroll, historically known for providing cloud-based payroll and human capital management (HCM) solutions to small and midsize businesses (SMBs) across North America. Heartland Payroll processed payroll for tens of thousands of businesses, offering value-added HR software and tax compliance tools.
Why Did Global Payments Sell?
Following a period of rapid fintech consolidation and digital transformation, Global Payments is divesting non-core activities to sharpen its competitive edge. The move echoes similar recent portfolio streamlining actions by industry peers such as FIS and Fiserv.
Acrisure’s Strategic Expansion
For Acrisure, headquartered in Grand Rapids, Michigan, the acquisition accelerates diversification beyond insurance brokerage and risk management. The company has spent the last three years investing heavily in fintech, cyber security, and health services. “Our vision is to provide enterprises with holistic financial and employee solutions,” said Greg Williams, CEO of Acrisure, in a media interview. “Heartland Payroll complements our expanding suite of employer services.”
Market & Industry Reactions
Investors and Market Impact
News of the transaction sent shares of Global Payments up 1.2% in pre-market trading on Friday, reflecting investor enthusiasm for its focus on higher-margin payment and software solutions. Several analysts at JPMorgan and Barclays praised the deal as “value-accretive,” forecasting that proceeds may be used for share buybacks or debt reduction.
Competitive Landscape
This transaction places Acrisure in direct competition with sector titans such as Paychex, ADP, and Gusto, expanding its reach into payroll and workforce management technology—a market estimated at over $20 billion in annual revenues, according to Statista.
Broader Context: Trends in Fintech M&A
The Global Payments-Acrisure deal comes amid an active period of mergers and acquisitions in the fintech domain. With digital adoption accelerating and non-cash transactions expected to grow 30% globally by 2026 (McKinsey), major companies are re-evaluating their portfolios to focus on scalable platforms and recurring revenue streams.
“Key players are aggressively divesting non-core businesses to fund innovation, enhance competitiveness, and adapt to regulatory pressures,” noted fintech analyst Lisa Armstrong from S&P Global. “We expect this trend to continue through 2025.”
What Happens Next?
The agreement remains subject to regulatory approvals and customary closing conditions. Both companies expect the transaction to finalize by year-end. Heartland Payroll employees will transition to Acrisure once the deal is complete. According to Global Payments, the divestment will have “minimal impact” on existing client relationships and no disruption of service during the transition.
Global Payments’ $1.1 billion sale of its payroll business to Acrisure marks a significant pivot in the financial technology space. The move highlights a growing trend as major players shed non-core divisions to double down on digital payments and software platforms, while newcomers like Acrisure make bold moves into new service verticals. Investors and industry watchers alike will be monitoring developments as both companies pursue their sharpened strategic paths.
Sources Used
- Investing.com: Global Payments to sell payroll business to Acrisure for $1.1 billion
- Global Payments corporate press releases
- Acrisure media statements
- Statista: Payroll & HCM Market Data
- S&P Global market commentary
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