The transaction will increase the companys current size from $11 billion to $18.5 billion in annual processing volume. The acquisition is expected to be effective on or about April 1, 2004. In addition to the acquisition agreement, TransFirst and Fifth Third Bank Processing Solutions have entered into a relationship in which Fifth Third will refer certain third-party merchant processing leads (such as agent bank, ISOs and ISCs) to TransFirst. With this acquisition, TransFirst will service more than 760 agent banks and process approximately $18.5 billion in annual sales volume for more than 150,000 merchants.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now