(Image source: Cayan website.)
Global payments solutions vendor TSYS (Columbus, Ga.) has acquired Cayan, a Boston-based payment technology company focused on integrated, omni-channel payment solutions, for $1.05 billion in an all cash transaction. FT Partners (San Francisco) served as financial advisor to Cayan, which is the third successful sale of a payments company to TSYS mediated by FT Partners.
Cayan, a portfolio company of Parthenon Capital Partners, provides technology led acquiring services to more than 70,000 merchants and over 100 integrated partners in the U.S. The company’s flagship Genius platform delivers what a TSYS statement characterizes a seamless and scalable unified commerce experience across channels.
“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.” comments M. Troy Woods, Chairman, President and CEO, TSYS. “TSYS already has tremendous scale and distribution capabilities. 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.”
Cutting-Edge Payment Solutions
“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.,” comments Henry Helgeson, Co-Founder and Chief Executive Officer, Cayan. “We’re excited about the opportunity to bring innovative products to a broader customer base.”
TSYS reports that its Board of Directors of TSYS has approved the transaction, which is expected to close in the first quarter of 2018.