Total System Services, Inc. (“TSYS”), a subsidiary of Synovus Financial Corporation (NYSE:SNV), has acquired Total Debt Management, Inc. (“TBM”), the debt collection and bankruptcy business of law firm Wallace & de Mayo. Based in Atlanta, Georgia, TDM provides the most sophisticated collections applications in the industry and handles any or all portions of a client’s collections business. TDM offers clients low-cost, high-value early out and recovery collections and agency management, bankruptcy process and legal account management, and skip tracing services. TDM provides fully-integrated technology offerings like the National Attorney Network (“NAN”), its legal management unit, which is the nation’s largest legal collections network, serving retailers, banks and finance companies. NAN facilitates and manages the placement of legal collection cases at the account level from the creditor to the collection law firm.
TSYS is a provider of global commerce solutions, specializing in the processing and clearing of credit card transactions and electronic payments. TSYS systems capture and deliver accurate information to business clients enabling sound financial decision making. TSYS and its family of companies offer a full range of business services from credit application to collections.
Terms of the transaction were not disclosed. Philpott Ball & Werner provided the fairness opinion for the transaction.
