Source: Transaction Network Services
Transaction Network Services (NYSE: TNS), a global communications and network services provider, has acquired Dialect Payment Technologies, a privately owned international payments processing technology company headquartered in Australia, for $4.2 million.
The transaction is expected to become accretive to earnings within 12 months.
Dialect Payment Technologies' premier Internet payment gateway gives TNS entry into the large 'card not present' (Internet and call center transactions) market, which is currently experiencing significant growth worldwide. This electronic transactions engine adds a key element to TNS' services suite that is usable in all geographies. Through the acquisition, TNS also enters relationships with new key customers primarily in the Asia/Pacific region, including credit, debit and ATM card providers and retailers.
"The Dialect acquisition is a highly strategic investment in technology as well as an important investment in TNS' future," commented Ray Low, President of TNS. "This transaction provides TNS access to a whole new set of customers and prospects as well as providing us with an electronic payments technology that is proven in the market, matches the gold standard achieved by our existing services, and is easily transportable to all parts of the world. This immediate scale and technological credibility instantly makes TNS a key player in this large, expanding area of the worldwide transactions market. It is also complementary to our 'card present' services, giving us another set of products we can utilize to capture our global growth objectives."
Colin Chandler, CEO, Dialect Payment Technologies, said, "Dialect is proud of its proven payments solution. We see TNS as the ideal basis for business expansion, bringing resources, industry knowledge and financial strength to our existing infrastructure."