TSYS To Acquire Cayan In $1.05 Bln All-cash Deal - Quick Facts

(RTTNews) - TSYS (TSS), a global payments solutions provider across the issuing, merchant and prepaid industries, said it has agreed to acquire Cayan in an all cash transaction valued at about $1.05 billion.

Boston-based Cayan is a payment technology company focused on integrated payment solutions and merchant acquiring. TSYS noted that the acquisition will accelerate its position as a leading technology payments provider to small and medium size businesses in the U.S.

Cayan, a portfolio company of Parthenon Capital Partners, provides technology led acquiring services to more than 70,000 merchants and 100 plus integrated partners in the U.S. Their flagship Genius platform delivers a seamless and scalable unified commerce experience across channels.

TSYS' board of directors has approved the transaction, which is expected to close in the first quarter of 2018.

TSYS expects the transaction to be modestly accretive to its net revenue growth and adjusted earnings per share in the first full year post closing.