The deal is expected to expand TSYS’ presence in the high-growth areas of integrated payments, e-commerce and omni-channel services.
Based in Hauppauge of New York, TransFirst offers merchant solutions to around 235,000 small and medium-sized businesses in the US.
The firm provides secure transaction processing services and payment enabling technologies for around 1,300 integrated technology and referral partners in the areas, including referral banks, integrated software vendors (ISVs), healthcare, not-for-profit associations and e-commerce.
It has operations facilities in Aurora of Colorado, Broomfield of Colorado, Franklin of Tennessee and Cypress and California.
TSYS chairman, president and CEO Troy Woods 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."
TransFirst president and CEO John Shlonsky said: "We believe the combination of our two organizations will form an even stronger platform for us to grow new sales, provide more robust solutions for our partners and merchants, and expand an already outstanding service model."
Subject to regulatory approvals and other customary closing conditions, the deal is expected to complete in the second quarter of this year.
TSYS provides services to financial institutions, businesses and governments in around 80 countries.
The company provides issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.
Image: TSYS to acquire merchant solutions provider TransFirst. Photo: courtesy of stockimages / FreeDigitalPhotos.net.
