Project Description

Total System Services, Inc. (“TSYS”), a subsidiary of Synovus Financial Corporation (NYSE:SNV), has acquired ProCard, Inc., based in Golden, Colorado. ProCard is a leader in customized, Internet, Intranet and client/server software solutions for commercial card management programs. In cooperation with commercial card bank issuers, ProCard technology has been installed and is actively used at corporations, federal, state and local government agencies and major educational institutions. ProCard’s applications serve 93 Fortune 500 companies.

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.