Merchant e-Solutions acquires Columbus Bank and Trust merchant business
Merchant e-Solutions (MeS), a Redwood Shores, California, eCommerce payments company, today announced it has successfully completed the acquisition of the Columbus Bank and Trust (CB&T) merchant business from Synovus, the Columbus, Georgia-based financial services holding company.
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As part of this acquisition, MeS and Synovus have agreed to a 10-year joint marketing agreement to provide payment processing services for new Synovus bank merchant customers.
"This transaction continues and expands our 10-year-old partnership with Synovus for many years to come and provides MeS and Synovus with significant growth opportunities," said MeS Chairman and CEO Sharif Bayyari. "Synovus and its affiliate bank merchant customers will continue to get the superior service and support they deserve and have come to expect from their merchant service provider."
"This is a positive, strategic transaction and will also provide us with significant capital to further strengthen our reserves and fund future growth opportunities," said Synovus Chairman and CEO Richard Anthony. "Merchant e-Solutions will continue to provide the high levels of service and product solutions our customers expect."