TSYS Completes $2.35 Billion Acquisition of TransFirst
April 4, 2016
Payment processor TSYS on Friday closed its acquisition of New York City-based merchant services provider TransFirst, in a $2.35 billion deal that was first announced in January . TransFirst, which had filed for an IPO last October also formally withdrew those plans on Friday. In a release, TSYS said the combined company will be the sixth-largest U.S. merchant acquirer by revenue and third-largest integrated payments provider. Offering merchants omnichannel capabilities will be a focus strengthened by the merger.
"Moving forward from the excitement of this day, and becoming a part of TSYS, our mission is to leverage our joint capabilities and products seamlessly, so our customers are able to rely on just one provider for their processing services," said John Shlonsky, president and CEO of TransFirst. "We will combine automation and technology to support an integrated platform to deliver relevant products and solutions to our partners and merchants—not just process transactions."