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TSYS announces plans to buy Infonox
November 2, 2008
COLUMBUS, Ga. — Total System Services Inc. has announced plans to acquire Infonox, a private California-based technology firm that specializes in payments technology. The acquisition is expected to be completed this week. According to a news release, the deal is expected to help TSYS expand its payment offerings, enabling it to move any payment form, through any payment device, anywhere in the world over any network. After the acquisition, the bought company is expected to be known as Infonox, a TSYS company. "This is much more than just an acquisition," said Dr. Safwan Shah, president and chief executive of Infonox. "The synergy Infonox has achieved through the partnership with TSYS presents us with a tremendous opportunity to grow our business and take our products and services to new levels of penetration." Shah will remain with Infonox as president, reporting to Robert J. Philbin, president of TSYS Acquiring Solutions. Infonox "plug-and-play" platforms simplify payment forms to include debit, credit, prepaid, money transfer and checks. Infonox also offers new connectivity interfaces to multiple payment devices and new channels of service delivery such as mobile phones, ATMs and bill-payment kiosks. Infonox provides a proprietary end-to-end tool to manage the lifecycle of a merchant. "TSYS's acquisition of Infonox will add a Silicon-valley innovation team to our arsenal," said Philip W. Tomlinson, chief executive of TSYS. "It provides a host of tools and services that will be very attractive to clients of TSYS Acquiring Solutions and technologies we believe will add increased value to our clients across the TSYS enterprise." Infonox offers an array of payment products on self-service and full-service transaction touchpoints in the gaming, banking and retail markets. The company delivers, manages, operates and supports services for several large publicly traded companies. Established in 1999, Infonox is based in Sunnyvale, Calif., with an additional office in Pune, India.
"Infonox provides a comprehensive suite of services to manage the lifecycle of a merchant, the lifecycle of a transaction and the lifecycle of a customer. Together we will deliver solutions-on-demand that include a full-range of POS product offerings and payment acceptance forms, more efficient sales and merchant activation tools, enhanced portfolio management, reporting tools and an integrated suite of workflow tools to drive greater back-office efficiency," Philbin said.
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