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Payment processor Total System Services to acquire Cayan

Tuesday 19 December 2017 | 10:42 AM CET

Total System Services (TSYS) has announced that it would buy payment technology company Cayan for USD 1.05 billion in cash to expand its offerings to small and mid-sized US businesses.

Cayan, a portfolio company of Parthenon Capital Partners, provides technology led acquiring services to more than 70,000 merchants and 100+ integrated partners in the US. The company’s flagship product is the Genius platform, which, according to the company, delivers a seamless and scalable unified commerce experience across channels.

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. Furthermore, the partnership will allow TSYS to serve about 730,000 merchant sites with an annual processing volume of more than USD 138 billion.

The deal is expected to close in the first quarter of 2018.

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