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TSYS to buy payment technology firm Cayan for $1.05bn

BBR Staff Writer Published 20 December 2017

Global payments solutions provider TSYS has signed an agreement to acquire payment technology firm Cayan for around $1.05bn.

Cayan, which is a portfolio firm of Parthenon Capital Partners, offers integrated payment solutions and merchant acquiring services to the customers.

The company offers technology led acquiring services to over 70,000 merchants and 100 integrated partners in the US.

Cayan unified commerce solution suite and Genius platform can be fully configured as per the business requirements.

Based in Boston, Cayan manages multiple offices in the US and Belfast of Northern Ireland.

TSYS chairman, president and CEO Troy Woods said: “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.

Cayan co-founder and CEO Henry Helgeson said: “Cayan and TSYS are aligned in our strategy to provide cutting-edge payment solutions and a robust product offering to merchants across the US.”

Subject to regulatory approvals and other customary closing conditions, the deal is expected to complete in the first quarter of 2018.

In 2016, TSYS also acquired merchant solutions provider TransFirst from Vista Equity Partners for around $2.35bn.

Based in Hauppauge of New York, TransFirst offers merchant solutions to around 235,000 small and medium-sized businesses in the US.

Image: TSYS has agreed to acquire payment technology firm Cayan. Photo: courtesy of adamr / FreeDigitalPhotos.net.