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December 21, 2017
Boston attorneys Bret Cohen and Brian Moore represented CEO Henry Helgeson in payment technology company Cayan’s acquisition by TSYS, a global payments solutions provider. Helgeson is the founder of Cayan and one its largest shareholders.
The all-cash transaction, valued at approximately $1.05 billion, is expected to be modestly accretive to TSYS’ net revenue growth and adjusted diluted EPS in the first full year post closing.
Cayan, a portfolio company of Parthenon Capital Partners, provides technology-led acquiring services to more than 70,000 merchants and 100+ integrated partners in the U.S.
“Cayan and TSYS are aligned in our strategy to provide cutting-edge payment solutions and a robust product offering to merchants across the U.S.,” Helgeson said. “We're excited about the opportunity to bring innovative products to a broader customer base.”
The Board of Directors of TSYS has approved the transaction, which is expected to close in Q1 2018, subject to regulatory approvals and other customary closing conditions.
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