News

Transaction Systems Architects expected to buy S2 Systems

June 29, 2005

LONDON - Transaction Systems Architects Inc., a provider of enterprise e-payments solutions, announced June 30 the signing of a definitive agreement to acquire all of S2 Systems' assets.

S2 Systems is a global provider of electronic payments and network connectivity software with significant presence in Europe, Middle East and Asia-Pacific. S2 Systems has more than 120 active customers and generates nearly half of its revenue from international markets. S2 primarily serves financial services and retail customers.

"We welcome S2's customers and its talented group of employees to TSA," said TSA chief executive Philip G. Heasley. "We believe this acquisition will enable us to leverage our combined expertise and strengthen our leadership position in the growing payments industry. The S2 acquisition will expand our presence in important markets and improve our cross-sell opportunities to customers around the globe."

Under the terms of the agreement, TSA will acquire S2's assets for $35 million. The acquisition is expected to close in late July.