Payment technology companies Global Payments and Total System Services have agreed on a stock merger of equals, sources told CNBC's David Faber.

An announcement could come as soon as Tuesday morning U.S. time, according to a tweet by Faber.

Faber tweet: Global Payments and Total Systems Services agree to all stock merger of equals deal- sources. Total Systems holders to receive 48% of combined company. Board to be split. Global Payments ceo to run combination with total equity value of roughly $40b. Announcement tomorrow am.

Jeffrey Sloan, the chief executive of Global Payments, will run the combined company worth roughly $40 billion, according to the sources. Shareholders of Total System Services will receive 48% of the merged firm, they said.

Both companies did not immediately respond to CNBC's request for comment.