ETA Members Global Payments Inc. and TSYS Agree to Multi-Billion Dollar Merger
5-29-2019
Global Payments Inc. and Total System Services (TSYS) will merge in a transaction valued at $21.5 billion, the payments technology companies announced Tuesday.
The latest in a series of significant payments mergers and acquisitions among industry leaders, the deal between Global Payments and TSYS will create “the premier payments technology company at scale in the largest and most attractive financial technology markets worldwide,” the companies said in a press release.
A “merger of equals,” the combined company will provide payments technology and software solutions to approximately 3.5 million predominantly small and medium-sized business locations and over 1,300 financial institutions across more than 100 countries, according to the press release.
According to the press release, TSYS CEO Troy Woods will become Chairman of the Board of Directors and Global Payments CEO Jeff Sloan will serve as Chief Executive Officer of the combined company and a Board member. The transaction is expected to close in the fourth quarter of 2019.
According to McKinsey, the payments market is expected to reach $3 trillion a year in revenue by 2023 as consumer use of electronic payments grows.
Click here to the press release.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.
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