Payments Provider Tsys To Buy TransFirst In $2.4 Billion Deal

Payments provider Tsys said Tuesday it has agreed to buy TransFirst, a Vista Equity Partners company, in an all-cash deal valued at about $2.35 billion. TransFirst serves more than 235,000 small- and medium-size businesses in the U.S. With the acquisition, Tsys will be the sixth largest U.S. acquirer based on net revenue, supporting more than 645,000 merchant outlets, the company said in a statement. Shares of Tsys rose 0.1% in late trading Tuesday after ending the regular session up 1.7%.