News

MasterCard to acquire TNS' Payment Gateway business

MasterCard will acquire TNS' e-commerce and card-present payment gateways, which will become part of the DataCash payment gateway suite.

November 6, 2014

Transaction Network Services, a portfolio company of Siris Capital Group since February 2013, announced it has entered into an agreement to sell its Payment Gateway Services business to MasterCard for an undisclosed sum.

According to the companies, MasterCard will acquire TNS’ e-commerce and card-present payment gateways, which will become part of the DataCash payment gateway suite. The companies said the combined offering will expand support for the next generation of online and mobile payments solutions through a quick integration with existing merchant and acquirer platforms. The transaction is subject to customary closing conditions and is expected to close before year end.

“At TNS, we have created a feature-rich, flexible payment gateway business with best in class infrastructure and availability," said Mike Keegan, co-CEO at TNS. "Combining this business with DataCash’s offering will create a truly differentiated global digital commerce solution with increased development and distribution capabilities. TNS looks forward to continuing to work with MasterCard and DataCash to help their customers grow and expand their business.”

Morgan Stanley & Co. LLC was the lead financial advisor to TNS. TNS was also advised by Evercore Partners Inc. and Moelis & Company. Simpson Thacher & Bartlett LLP acted as legal advisor.