Fidelity National Information Services has reached an agreement to buy the payment processing company WorldPay for about $35 billion in the biggest deal to date in the payments industry. Including the assumption of Worldpay’s debt, the deal is valued at about $43 billion.

Under the deal, WorldPay shareholders will get FIS shares and cash valuing the company at $112.12 per share, a 14% premium over the closing price on Friday, according to Reuters.

The companies said the combined entity will have revenue of $12 billion.

“Scale matters in our rapidly changing industry,” Fidelity National CEO Gary Norcross said in a statement. “Our two powerhouse organizations will combine forces to offer a customer-driven combination of scale, global presence, and the industry’s broadest range of global financial solutions.”

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WorldPay, which started in 1989, was acquired by RBS in 2002 and sold in 2010 as a condition of the Scottish bank’s bailout following the financial crisis. In 2017, it merged with the U.S. credit card processing company Vantiv in a deal valued at $10.63 billion.

WorldPay says it processes more than 40 billion transactions every year across more than 120 currencies.

“The need to invest, to continue to modernize both the technology and application layers, and continue to innovate so our customers can continue to be disrupters, will be important for us,” Norcross said in a call with investors.

After the deal, FIS will have seven seats and WorldPay will have five seats on the 12-member board of directors. The CEO of WorldPay, Charles Drucker, will be executive vice chairman. Gary Norcross will remain chairman, president, and CEO.

Centerview Partners and Goldman Sachs acted as financial advisers to Fidelity National.

The company will have its headquarters in Jacksonville, Florida.

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