Tsys Expands Merchant Acquiring Presence with TermNet Acquisition
Tsys has acquired TermNet Merchant Services, an Atlanta-based merchant acquirer. The company will be re-branded as Tsys and be fully integrated into Tsys Merchant Solutions, another recent Tsys acquisition based in Omaha, Nebraska.
“The acquisition of TermNet is the next step in establishing ourselves as a major player in the merchant acquiring industry,” said Philip Tomlinson, chairman of the board and chief executive officer (CEO) of Tsys. “With its highly diversified merchant portfolio and strong sales distribution channel, we believe this is a great opportunity to continue to grow the Tsys Merchant Solutions business.”