TSYS To Buy Visa's Share Of ProcessingFirm
COLUMBUS, Ga. - (01/19/05) -- TSYS, formerly known as Total SystemServices Inc., said Tuesday it has agreed to acquire a 50% in VitalProcessing Services, the second largest merchant processor in theU.S., it does not already own from Visa USA. The deal will makeTempe, Ariz.-based Vital, which serves more than one millionmerchant locations, a wholly owned subsidiary of TSYS. TSYS saidthe deal will give it greater synergies for its clients thatservice merchants who accept cards as payments and issue credit totheir customers. Terms of the deal were not disclosed. Visa andTSYS formed Vital as a joint venture in1996.