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TSYS to acquire TransFirst for $2.35 billion

TSYS to acquire TransFirst for $2.35 billion

TSYS announced it has entered into a definitive agreement with Vista Equity Partners to acquire TransFirst, a Vista portfolio company and leading US merchant solutions provider, in an all-cash transaction valued at approximately $2.35 billion.

TransFirst delivers merchant solutions to more than 235,000 small and medium-sized businesses in the US

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TSYS to acquire TransFirst for $2.35 billion

through its proprietary technology, end-to-end customized and multi-channel products and superior customer service.

The transaction enhances TSYS’ offering and position in the high-growth areas of integrated payments, e-commerce and omni-channel services. As a result of the transaction, TSYS will be the 6th largest US acquirer based on net revenue, supporting more than 645,000 merchant outlets. TSYS expects the transaction to be accretive in the low double digits to adjusted EPS for the first twelve-month period following closing, excluding one-time acquisition-related fees and expenses.

TransFirst leads the market with its partner-centric distribution model supporting more than 1,300 integrated technology and referral partners in high-growth areas that include Integrated Software Vendors (ISVs), healthcare, not-for-profit, referral banks, associations and e-commerce. TransFirst has approximately 1,000 employees with offices throughout the US.

Troy Woods, chairman, president and chief executive officer of TSYS, said, “TransFirst significantly increases our scale and opportunity within the highly attractive merchant space, and particularly the profitable and fast-growing small and medium-sized business segment.

With the added strength of TransFirst, TSYS will be uniquely positioned with significant scale and strength across issuer processing, merchant services and prepaid program management. I believe our ability to offer market-leading services through this distribution network and across the payments spectrum will be unmatched.

I have every confidence that TransFirst’s strong leadership team, reputation and focus on outstanding customer service will further our pursuit to unlock opportunities in payments and deliver strong results for TSYS, our customers and shareholders over the long-term.”

The post TSYS to acquire TransFirst for $2.35 billion appeared first on Payments Cards & Mobile.

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