Atlanta-based First Data has closed on a definitive agreement to acquire financial transaction processing outfit, PaySys International. Financial terms have not been disclosed.
First Data say the acquisition will provide a new product offering primarily in the international marketplace for bankcard, retail, private label and acquiring processing systems.
PaySys has customers in 35 countries and offices in the United States, England, Ireland, Singapore, China, Costa Rica and Australia.
Ric Duques, chairman and chief executive officer for First Data, says: "By adding the PaySys software applications to the First Data arsenal of leading-edge payment services, we are taking a significant step to accelerate our worldwide card processing expansion plans."
The transaction is expected to have no material impact on First Data's 2001 earnings.