Total System Services Inc. has acquired the 50% of the merchant processor Vital Processing Services LLC that it did not already own.
The Columbus, Ga., transaction processor, which is majority-owned by Synovus Financial Corp., announced the purchase Tuesday. It had operated Vital as a joint venture with Visa U.S.A.
TSYS announced in January that it would buy Visa's stake for $95 million.
Vital is now a wholly owned subsidiary of TSYS. According to TSYS, Vital is the second-largest processor of merchant accounts in the United States, with more than 1 million merchant locations.
