Global Payments to acquire EVO in $4 billion deal to boost B2B segment

REUTERS/Dado Ruvic/Illustration

(Reuters) -Global Payments Inc said on Monday it would buy smaller peer EVO Payments Inc for nearly $4 billion including debt, as the fintech firm seeks to expand its footprint in the business-to-business (B2B) space.

Companies such as EVO strive to digitize and streamline B2B payments which are usually more complex than business-to-consumer payments as they involve dealing with several domestic and overseas merchants.