TSYS reaches agreement in principle with Capital One
TSYS (NYSE: TSS) has reached an agreement in principle with Capital One Financial Corporation to provide processing services for Capital One's North American portfolio of consumer and small-business credit card accounts.
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TSYS and Capital One have agreed to enter into a period of exclusive negotiations, and expect that a definitive agreement will be finalized in the near future.
Execution of the definitive agreement remains subject to the successful completion of this final phase of negotiation and due diligence.
Neither company intends to issue any further comments until negotiations are concluded.