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The rush to be a "one stop shop" for merchants by bundling mobile, Web and in-store payment technology is prompting many companies to join forces, resulting in several high-priced mergers and acquisitions in recent years.
TSYS and TransFirst
Among the most recent deals is TSYS' agreement to buy TransFirst for $2.4 billion. "Thirty percent of [TransFirst's] revenue is in the integrated payments space, and their e-commerce operation is bigger and more robust than ours," said M. Troy Woods, president and CEO of TSYS, just after the deal was announced on Jan. 26.