A UK payment processing firm that used to be owned by Royal Bank of Scotland has been sold in a deal worth $43bn (£32bn).

WorldPay has been bought by Florida-based Fidelity National Information Services (FIS) for $35bn in cash and shares, plus WorldPay’s debt.

FIS provides electronic payments services and also software for the finance industry.

WorldPay was sold by RBS as a condition of the bank’s financial crisis bailout.

The stock market values RBS at £32bn – roughly the size of the deal to buy WorldPay.

Last October, BT poached WorldPay’s co-head Philip Jansen to replace Gavin Patterson as chief executive of the telecoms group.

Financial software firm FIS said buying WorldPay would help it sell more services to banks and other financial firms.

FIS chief executive Gary Norcross said

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