US-based Transaction Network Services (TNS) has announced plans to acquire Australian payments provider ADVAM in a bid to boost its core payment capabilities.
TNS expects the deal to help in catering to the payments market in the US, Europe and Asia Pacific.
ADVAM delivers solutions to airport, retail, parking, government and self-service sectors. The company processes numerous transactions and reservations each day across more than 20 countries.
The unattended payments firm anticipates that the acquisition will support its global expansion through TNS’ network of banks, acquirers and processors.
ADVAM intends to further develop its solutions and enhance customer service for its clients.
Transaction Network Services CEO Mike Keegan said: “This is an important strategic acquisition for TNS as it helps us to expand both our and ADVAM’s operations and capabilities.
“ADVAM’s unique set of feature-rich unattended and e-commerce solutions complement our portfolio of services, giving customers of both companies access to a broader set of payments and connectivity functionality from a single supplier.”
ADVAM CEO Jose Da Silva said: “We’re delighted we will be under the new ownership of TNS, which will allow us to continue to deliver the latest innovations, build on our existing portfolio and ensure customers continue to receive an exceptional level of service.”
The transaction, which is subject to regulatory approvals, will transfer nearly 110 ADVAM employees to TNS. After closing of the acquisition, ADVAM will operate as a separate entity.