TSYS completes acquisition of Cayan for USD 1.05 billion

Friday 12 January 2018 14:47 CET | News

TSYS, a global payments solutions provider, has completed its acquisition of Cayan, a payment technology company.

Cayan and TSYS’ existing merchant businesses will be combined under the TSYS brand. The merger, which was first announced in December completed in an all cash transaction valued at approximately USD 1.05 billion.

Cayan provides technology led acquiring services to more than 70,000 merchants and 100 integrated partners in the U.S. The company’s flagship product is the Genius platform, which provides omnichannel support and features to ecommerce businesses.

“This strategic acquisition builds on our very strong foundation in the acquiring space and will support our goal to become a leading payments solutions provider to small and medium size businesses in the U.S.” said M. Troy Woods, Chairman, President and Chief Executive Officer, TSYS. “The addition of Cayan creates great synergies to identify best-in-class opportunities that will drive revenue. Together, we will continue focusing on developing products, technologies and services that merchants we serve want and need to continue to grow.”

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Keywords: TSYS, Cayan, payments service provider, payments processor, Genius Platform, online payments
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce