logo
  Join        Login             Stock Quote

Total System Services (TSS) Closes Purchase Of Propay

 December 26, 2012 03:21 PM
 


(By Balaseshan) Total System Services Inc. (NYSE: TSS), which provides electronic payment processing and other services, said it has completed its acquisition of ProPay.

The Columbus, Georgia-based company said ProPay is now a wholly owned TSS subsidiary reporting to Mark Pyke, president of TSS' Merchant Services segment.

ProPay previously operated as a privately-held company, and headquartered in Lehi, Utah. It offers simple, secure and affordable payment solutions for organizations ranging from small, home-based entrepreneurs to multi-billion dollar enterprises.

Financial Technology Partners LP and FTP Securities LLC acted as exclusive financial and strategic advisors to ProPay and its Board of Directors in this transaction.

[Related -Merger Arbitrage Mondays – June 3, 2013]

Total System Services offers issuer account solutions, including processing the card application, initiating service for the cardholder, processing each card transaction for the issuing retailer or financial institution, and accumulating the account's transactions.

The company also offers fraud management services for monitoring the unauthorized use of accounts; and other services, such as customized communications to cardholders, and information verification associated with granting credit, debt collection, and customer service.

TSS is trading down 1.06% at $21.42 on Wednesday. The stock has been trading between $19.35 and $25.06 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageFord Motor Company (F): A long Road to Deutsche Bank’s $19 Target

Ford Motor Company (NYSE:F) is going the right way on a one way street where most everybody else is driving read on...

article imageCitigroup Inc (C) Q1 Earnings Preview: Too Many Parts Heading South

Citigroup Inc (NYSE:C) will issue its first quarter results via press release at approximately 8 a.m. (ET) read on...

article imageFacebook Inc (FB): You Might Not Like It Today, But You’ll Like It Tomorrow

Do you honestly want to invest in stocks right now? It sure looks like the bull market is at least on read on...

article imageJPMorgan Chase & Co. (JPM) Q1 Earnings Preview: Regulation Costs To Trim Guidance?

JPMorgan Chase & Co. (NYSE:JPM) will host a conference call to review first quarter 2014 financial results read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Diageo Options In Play Ahead Of Earnings
More Articles on: Business Services



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.