TSYS has announced the acquisition of Card Tech, Ltd., a privately owned London-based payments firm that has implemented its payments software for six of the 25 largest global banks and three of the largest global card issuers. Worldwide, the company has approximately 190 clients from 70 countries -- primarily banks. Its applications are certified by all of the major global payment networks. The all-cash transaction closed on 11 July 2006. The new company will be known as TSYS Card Tech.

"This is an important strategic acquisition to ensure TSYS' continued expansion into new emerging markets. With TSYS Card Tech, we have established a truly global footprint with capabilities to provide server-based issuing and acquiring services for small- and mid-sized financial institutions in almost any market," says M. Troy Woods, president and chief operating officer of TSYS. "Card Tech has a proven record of fast, reliable implementations and low entry costs and we are delighted to establish such a wonderful match."

"Our affiliation with TSYS will enhance the services and capabilities that we can offer to our customers," says Jaffar Agha-Jaffar, a founding partner of Card Tech. Mr. Agha-Jaffar will continue to serve as managing director of TSYS Card Tech after the acquisition, reporting to Bruce L. Bacon, group executive for international services at TSYS.

"TSYS is committed to providing our customers with innovative and flexible processing solutions in diverse markets around the globe," says Mr. Bacon. "The combination of TSYS and Card Tech positions TSYS to serve clients throughout the world with expanded products and services regardless of size and needs of the respective market."

Approximately 190 banks from 70 countries use Card Tech solutions. Our software and processing service addresses every aspect of the card-management business cycle, including card issuance, merchant acquiring, authorisation, message switching, encryption key and PIN management, e-commerce and fraud management. TSYS Card Tech has an exceptional record of delivering scheme-compliant solutions on budget and on time. Every implementation is backed with 24x7 global support.