First USA Paymentech Inc. has announced it will acquire the merchant processing portfolio of TransGlobal Systems Inc.

TransGlobal Systems, based in Fort Lauderdale, Fla., is an independent service organization that specializes in processing for large-account hospitality, travel, and entertainment merchants.

The portfolio includes 2,300 merchants and represents an annual credit card sales volume of $1.6 billion.

Terms of deal were not disclosed.

Paymentech, the No. 3 processor of merchant credit card transactions, processes 342 million transactions a year with an annual volume of $36.5 billion.

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