TSYS Managed Services is now a wholly owned unit of Total System Services.
The Columbus, Ga.-based payments company has acquired the remaining 45% ownership share in its TSYS Managed Services EMEA joint venture from The Merchants Group Ltd., TSYS announced in a June 13 news release. Terms of the deal were not disclosed.
TSYS Managed Services EMEA launched in 2006 as a joint venture between TSYS and Dimension Data, which owns The Merchants Group. It provides TSYS international clients with outsourced business process and contact center service, including customer service, fraud risk management and strategy, collections, dispute management and back office and help desk services for TSYS clients.
TSYS framed the acquisition as one that would fortify its foothold in Europe and allow it to improve and expand its services.
“This strengthens our managed services presence in Europe and helps us deliver greater benefits to clients,” Gaylon Jowers, president of TSYS’ international services segment, said in the release. “We already work with a number of high-profile financial institutions, and with this increased focus we expect to further grow this business as part of our end-to-end service offerings."