Digital Transactions: Synovus Financial Corp. confirmed last week that it plans to spin off its entire 80.8 percent interest in payment card processor Total System Services Inc. (TSYS) to shareholders. "This transaction allows for broader diversification of our shareholder base; more liquidity in our shares; additional investment in strategic growth opportunities and potential acquisitions; and the opportunity for shareholders to value TSYS as a stand-alone, pure play in the payments-processing market," said Philip W. Tomlinson, chairman and chief executive of TSYS. The planned spin, approved by directors of both companies, will include a TSYS-paid cash dividend to its shareholders of $600 million, or $3.04 per share.
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