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Total System Services Inc to Acquire NetSpend Holdings Inc


Tuesday, 19 Feb 2013 04:12pm EST 

Total System Services Inc and NetSpend Holdings Inc, provider of general purpose reloadable (GPR) prepaid debit cards and related financial services to under banked consumers in the United States, 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. Under terms of the agreement, NetSpend shareholders will receive $16.00 in cash for each share of NetSpend common stock. TSYS expects the transaction to be accretive to GAAP EPS for the first 12 month period following closing, excluding one-time acquisition related fees and expenses. The transaction is expected to close in mid-2013. 

Company Quote

31.75
0.05 +0.16%
12 Sep 2014