Global payments solutions provider TSYS announced Monday (Dec.18) that it would acquire payments technology company Cayan in a $1.05 billion all-cash deal, according to a company press release.
TSYS (NYSE: TSS), a leading global payments solutions provider across the issuing, merchant and prepaid industries, today announced it has entered into an agreement to acquire Cayan, a payment technology company focused on integrated payment solutions and merchant acquiring, in an all cash transaction valued at approximately $1.05 billion. The transaction is expected to be modestly accretive to TSYS’ net revenue growth and adjusted diluted EPS in the first full year post closing.
Cayan, a portfolio company of Parthenon Capital Partners, provides technology led acquiring services to more than 70,000 merchants and 100+ integrated partners in the U.S. Their flagship Genius platform delivers a seamless and scalable unified commerce experience across channels.
“The acquisition of Cayan strategically complements our merchant goals to become a leading payment solutions provider to small and medium size businesses in the U.S. by delivering ‘best in class’ services and solutions.” said M. Troy Woods, Chairman, President and Chief Executive Officer, TSYS. “TSYS already has tremendous scale and distribution capabilities. The addition of Cayan’s unified commerce solutions puts us in a strong competitive position to jointly offer a broader set of value-add products and services to our partners and merchants.”
TSYS said the deal is expected to promote modest additions to TSYS’ net revenue growth and adjusted diluted earnings per share (EPS) in the first full year after the deal closes. Cayan, a portfolio company of Parthenon Capital Partners, provides technology services to more than 70,000 merchants and 100-plus integrated partners in the U.S.