The merchant businesses of both companies will be combined under the TSYS brand, creating the third-largest integrated payments provider and the sixth-largest merchant acquirer in the US based on revenue, pymnts.com reports.
TSYS announced the impeding acquisition back in January 2016, with plans to purchase TransFirst from Vista Equity Partners for roughly USD 2.4 billion.
TransFirst has a client base of more than 235,000 small and mid-sized businesses throughout the US. The deal gives TSYS leverage into the omnichannel arena, and the combined entity will support more than 645,000 merchant outlets. Key areas of focus will include prepaid programmes, issuer processing and merchant services.
The acquisition represents the extension of a long-term, 15-year partnership between TSYS and TransFirst.
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