TSYS says it will buy payment processing firm Cayan for $1.05 billion in cash to expand its offerings to small and mid-sized US businesses.
TSYS to buy payment processing firm Cayan for $1.05 billion
The deal is expected to modestly benefit TSYS’s net revenue growth and adjusted earnings per share in the first full year post closing, the payment processor said. TSYS expects to realize a meaningful cash tax benefit as a result of the deal.
The combination will allow TSYS to serve about 730,000 merchant sites with an annual processing volume of more than $138 billion. The deal is expected to close in the first quarter of 2018.
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