STRATEGIC PARTNERS
December 26, 2017
TSYS, a payments solutions provider, has entered into an agreement to acquire Cayan, a payment technology company. According to a company press release, the all cash transaction is valued at $1.05 billion.
Cayan, a portfolio company of Parthenon Capital Partners, provides acquiring services to more than 70,000 merchants and more than 100 integrated partners in the U.S., the release 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." TSYS Chairman, President and CEO M. Troy Woods said in the release. "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."
"Cayan and TSYS are aligned in our strategy to provide cutting-edge payment solutions and a robust product offering to merchants across the U.S.," Cayan co-founder and CEO Henry Helgeson said. "We're excited about the opportunity to bring innovative products to a broader customer base."
