ETA Members Global Payments Inc. and TSYS Agree to Multi-Billion Dollar Merger

Global Payments Inc. and Total System Services (TSYS) will merge in a transaction valued at $21.5 billion, the payments technology companies announced Tuesday.

The latest in a series of significant payments mergers and acquisitions among industry leaders, the deal between Global Payments and TSYS will create “the premier payments technology company at scale in the largest and most attractive financial technology markets worldwide,” the companies said in a press release.

A “merger of equals,” the combined company will provide payments technology and software solutions to approximately 3.5 million predominantly small and medium-sized business locations and over 1,300 financial institutions across more than 100 countries, according to the press release.

According to the press release, TSYS CEO Troy Woods will become Chairman of the Board of Directors and Global Payments CEO Jeff Sloan will serve as Chief Executive Officer of the combined company and a Board member. The transaction is expected to close in the fourth quarter of 2019.

According to McKinsey, the payments market is expected to reach $3 trillion a year in revenue by 2023 as consumer use of electronic payments grows.

Click here to the press release.