Payment processor TSYS has acquired
Atlanta-based TermNet Merchant Services in a bid to strengthen its
merchant acquiring businesses.
The company will be rebranded as TSYS and
become fully integrated into TSYS Merchant Solutions – another of
its acquisitions based in Omaha, Nebraska.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
“The acquisition of TermNet is the next step in establishing
ourselves as a major player in the merchant acquiring industry,”
said Philip W. Tomlinson, chairman of the board and chief executive
officer of TSYS.
“With its highly diversified merchant
portfolio and strong sales distribution channel, we believe this is
a great opportunity to continue to grow the TSYS Merchant Solutions
business.”
TermNet is ranked as the 52nd
largest merchant acquirer in the US by dollar volume, according to
The Nilson Report. The deal is said to allow TSYS Merchant
Solutions to serve more than 327,000 merchant locations across the
US.
Financial terms of deal were not
disclosed.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
