TSYS has purchased iMobile3, a maker of private-label payment solutions for small businesses, to beef up merchants' capabilities through the point of sale.
TSYS sees the acquisition as key to reaching more U.S.-based small- and midsize businesses, said Philip McHugh, senior executive vice president and president of merchant solutions for TSYS, in the release.
The deal will give iMobile3 a path to reach more merchants.
“Going forward, our partners will continue to leveraging iMobile3’s collection of private-labeled products and payment technology expertise to build their own brand, while benefiting from TSYS’ financial strength, card brand relationships, additional product offerings and its commitment to being a partner-focused company,” said Bob Leonard, iMobile3’s CEO, in the release.
Jacksonville, Fla.-based iMobile 3, launched in 2009, offers digital marketing and business analytics tools. Last year, it released a marketplace platform linking marketing, reporting and merchant account tools within a merchant portal that can be custom-branded and accessed via a mobile app, according to the company’s website.