Business
Business

TSYS completes acquisition of Texas company

By Arielle Kass
July 1, 2013

Georgia-based TSYS has completed its acquisition of the Texas company NetSpend, a business that provides reloadable prepaid debit cards and other financial services.

NetSpend is a wholly owned subsidiary of the payments company. Its CEO and president will remain.

NetSpend caters to underbanked consumers, In a statement, TSYS chairman and CEO Philip W. Tomlinson said the acquisition brings TSYS closer to the customer than the company has been before.

NetSpend was a publicly traded company and stockholders will receive $16 per share in cash for each share they hold. The stock will be delisted from NASDAQ.

About the Author

Arielle Kass covers Gwinnett County for The Atlanta Journal-Constitution. She started at the paper in 2010, and has covered business and local government beats around metro Atlanta. Arielle is a graduate of Emory University.

More Stories

Keep Reading

Georgia and Florida wildlife officials work to disentangle right whale No. 5217, called Division, off St. Simons Island on Dec. 4. (Courtesy o Clearwater Marine Aquarium Research Institute)

Credit: Special

Two-day effort helps free endangered right whale off Georgia coast

Georgia state officials helped disentangle a North American right whale, one of the most endangered whales on the planet.

1h ago

That low car payment could cost you more in the long run. A lot more.

About a quarter of all car loans now run longer than 72 months, according to Cox Automotive data.

Centennial Yards’ rise heralds a new downtown Atlanta

The $5 billion Centennial Yards project is rising within the 50-acre hole long known as the Gulch, an area once thought to be too complex to ever be developed.

The Latest

Ultralong 84-month loans make new cars look budget-friendly. The real price shows up in interest and negative equity. (David Guralnick/The Detroit News/TNS)

Credit: TNS

That low car payment could cost you more in the long run. A lot more.

OPINION

Nissan’s e-Power: An EV driving experience, fueled by gas

OPINION

December car sales are good but not magic

Featured

Waymo autonomous vehicles operate across 65 square miles inside I-285 and have been involved in six incidents with Atlanta Public School buses since May. Waymo issued a recall because of their cars briefly stopping or slowing down before continuing forward while a bus was stopped and flashing its lights. (Courtesy of Atlanta Public Schools)

Credit: Courtesy of Atlanta Public Schools

Waymo cars ignored stopped school buses in Atlanta. What happens now?

The National Highway Traffic Safety Administration opened an investigation. The autonomous vehicle company has issued a software recall.

Search for new MARTA chief hits snag

The search for a new leader for the regional transit authority is widely seen as one of the most important duties facing the Marta Board

Georgia high school coach choked player, put another in headlock, warrants say

The Greene County High coach was charged with two counts of aggravated assault and one count of simple battery, according to investigators.