TSYS to acquire NetSpend
TSYS, a leading global payment solutions provider, and NetSpend, a leading provider of general purpose reloadable prepaid debit cards and related financial services to underbanked consumers in the United States, today announced that they have entered into a definitive agreement pursuant to which TSYS will acquire NetSpend in an all cash transaction valued at approximately 1.4 billion.
Austin-based NetSpend, a provider of prepaid debit cards, has raised $204M in its IPO.