Deals
Payments Firm TSYS to Acquire TransFirst for $2.35 Billion
- `TransFirst significantly increases our scale and opportunity'
- S&P cuts TSYS credit rating over plan to finance cash purchase
This article is for subscribers only.
Payments processor Total System Services Inc. agreed to buy Vista Equity Partners’s TransFirst for about $2.35 billion to expand services to more than 235,000 small- and medium-sized businesses.
The all-cash deal will push TSYS to sixth place among so-called U.S. merchant acquirers by revenue, the companies said Tuesday in a statement. The combined company will serve more than 645,000 outlets, according to the statement.