Tsys announced today that it will acquire Infonox, a privately owned California-based technology firm with payments expertise, leading-edge technology and a focused methodology to deliver rapid-to-market solutions.
The acquisition is expected to be completed the week of November 3, 2008.
This acquisition will add valuable new payment technology and acceptance capabilities that elevate TSYS in its mission to move any payment form, through any payment device, anywhere in the world, over any network.
The company will be known as Infonox, a TSYS company. Its "plug-and-play" platforms simplify the acceptance of payment forms to include, but not limited to: debit, credit, prepaid, money transfer and checks; it also offers new connectivity interfaces to multiple payment devices and new channels of service delivery such as mobile phones, ATMs and bill-pay kiosks.
Infonox also provides a proprietary end-to-end tool to manage the lifecycle of a merchant so businesses can better engage, serve and retain their customers.
"TSYS' acquisition of Infonox will add a Silicon-valley innovation team to our arsenal," said Philip W. Tomlinson, chief executive officer of TSYS. "It provides a host of tools and services that will be very attractive to clients of TSYS Acquiring Solutions and technologies we believe will add increased value to our clients across the TSYS enterprise."
"This is much more than just an acquisition," said Dr. Safwan Shah, president and chief executive officer of Infonox. "The synergy Infonox has achieved through the partnership with TSYS presents us with a tremendous opportunity to grow our business and take our products and services to new levels of penetration."
Dr. Shah will remain with Infonox as president, reporting to Robert J. Philbin, president of TSYS Acquiring Solutions.
"Infonox provides a comprehensive suite of services to manage the lifecycle of a merchant, the lifecycle of a transaction and the lifecycle of a customer. Together we will deliver solutions-on-demand that include a full-range of POS product offerings and payment acceptance forms, more efficient sales and merchant activation tools, enhanced portfolio management, reporting tools and an integrated suite of workflow tools to drive greater back-office efficiency," said Mr. Philbin.
Infonox offers an array of payment products on self-service and full-service transaction touch points in the gaming, banking and retail markets. The company delivers, manages, operates and supports services for several large publicly traded companies.
- Infonox software platform is used for managing a merchant portfolio from sales to profitability. Thousands of merchants and acquirers get up-to-the-second information on their business.
- Infonox software platform is used to process checks (personal, payroll), intercept and switch ATMs, conduct debit and credit transactions, process instant loans, facilitate bill payments, carry out money transfers, issue and dispense prepaid cards, and more.
- Infonox technology enables connection to any back end processor and payment brands or networks.
Established in 1999, Infonox is based in Sunnyvale, Calif., with an additional office in Pune, India.