TSYS, a leading global payments solutions provider across the issuing, merchant and prepaid industries, announced it has completed its acquisition of Cayan, a payment technology company focused on integrated payment solutions and merchant acquiring. Cayan and TSYS’ existing merchant businesses will be combined under the TSYS brand, which accelerates TSYS’ position as a leading technology payments provider to small and medium size businesses in the U.S. The deal, which was announced on Dec. 18, 2017, closed in an all cash transaction valued at approximately $1.05 billion.

Cayan provides technology led acquiring services to more than 70,000 merchants and 100+ integrated partners in the U.S. They bring a strong omni-channel presence with a fully integrated, multichannel customer engagement platform and their flagship Genius platform delivers a seamless and scalable unified commerce experience across channels.

“This strategic acquisition builds on our very strong foundation in the acquiring space and will support our goal to become a leading payments solutions provider to small and medium size businesses in the U.S.” said M. Troy Woods, Chairman, President and Chief Executive Officer, TSYS. “The addition of Cayan creates great synergies to identify best-in-class opportunities that will drive revenue. Together, we will continue focusing on developing products, technologies and services that merchants we serve want and need to continue to grow.”

Cayan’s Co-Founder and Chief Executive Officer, Henry Helgeson, will serve as President of Cayan, reporting to Philip McHugh, Senior Executive Vice President and President, Merchant Solutions, TSYS.

“TSYS shares our vision for the future and enhances our growth trajectory,” said Henry Helgeson. “Our business’ foundation is its competitive technology and an unbelievably talented team, and I believe there is still tremendous, untapped market opportunity.”

Cayan previously operated as a portfolio company of Parthenon Capital Partners.

Additional details about the acquisition will be discussed on the company's fourth-quarter earnings call on Jan. 23, 2018.