Global Payments Inc., a leading worldwide provider of payment technology services, announced that it has entered into an accelerated share repurchase agreement with Goldman, Sachs & Co. to repurchase an aggregate of $50 million of the company's common stock.

Under the terms of the ASR, the company expects to receive an initial delivery of shares having a value of approximately $40 million. The total number of shares ultimately repurchased under the agreement will be determined upon final settlement and will be based on the volume-weighted average price of the company's common stock during the repurchase period. The company anticipates that all repurchases under the ASR will be completed no later than June 30, 2016.