Fintech startup Acrisure acquires Global Payments’ payroll unit for $1.1 billion

Global Payments is unloading another piece of its business. The Atlanta-based payments giant announced Wednesday that it’s selling its payroll arm, Heartland Payroll Solutions, to fintech firm Acrisure for $1.1 billion. The move is the latest in a string of divestitures aimed at sharpening its focus and boosting profitability.

Acrisure isn’t your average fintech player. Originally an insurance brokerage, the Grand Rapids, Michigan-based company has been on a buying spree, pushing deeper into tech, data, and financial services. With this acquisition, it’s making a clear play to become a one-stop shop across the fintech spectrum.

Global Payments Offloads Payroll Unit to Acrisure for $1.1 Billion Amid Streamlining Push

Heartland Payroll, the division being sold, serves more than 50,000 business clients, including Burger King and Marathon Petroleum. It provides a suite of services including payroll processing, tax filing, and HR support. After the deal closes—expected in the second half of 2025—the brand will be retired, and the unit will operate under Acrisure’s umbrella. Vince Lombardo, formerly President of North America Merchant Solutions at Global Payments, will lead the new division as CEO.

“This transaction further sharpens our strategic focus and allows us to amplify investment in the markets and solutions where we are most differentiated,” said Global Payments CEO Cameron Bready.

That’s been the playbook for Global Payments lately. Last month, it sold its issuer solutions business to FIS in a massive $13.5 billion deal, Reuters reported. Before that, it exited the healthcare space with a $1.13 billion sale of AdvancedMD to Francisco Partners. The goal is to become a leaner, more focused payments business—something analysts have been calling for as profits slid in recent quarters.

The proceeds from the Heartland sale will be used to buy back stock or return capital to investors—part of the company’s effort to drive shareholder value without stretching itself thin across unrelated business lines. Still, Global Payments isn’t cutting all ties. It will continue working with Acrisure to provide payroll and HR solutions to merchants through a partnership model.

For Acrisure, the timing makes sense. The company just raised $2.1 billion in a funding round led by Bain Capital, pushing its valuation to $32 billion. That round included convertible preferred stock—an instrument often used by firms preparing for a future IPO. Acrisure hasn’t confirmed any such plans, but the structure leaves the door open.

Last month, Global Payments also acquired Worldpay in a $22.7B deal to rival Stripe, PayPal, and Adyen.

“This significant acquisition accelerates our successful transformation into a fully scaled and diversified fintech platform,” Acrisure CEO Greg Williams said.

Goldfinch Partners advised Acrisure on the deal.

The acquisition gives Acrisure a ready-made payroll business with scale, recurring revenue, and existing enterprise clients—all of which slot neatly into the company’s growing fintech stack. It also shows how aggressively Acrisure is moving to position itself as something much larger than an insurance middleman.

The broader trend? More fintechs are going horizontal—bundling services like payroll, insurance, lending, and payments, especially as valuations tighten and investors demand clearer paths to monetization.

With the Heartland acquisition, Acrisure is betting that being bigger, broader, and tech-driven is the future.