Point and TS3 today announced that Point has acquired TS3 Services Ltd, a UK provider of secure transaction solutions.
TS3 provides secure transaction solutions for electronic payment and other electronic transactions of value to a wide range of clients from multi-national card payment acquirers, retailers and payment network operators through to individual retail and mobile traders.
Point is one of the leading providers of electronic payment solutions in Europe with representation throughout the Nordic, Baltic, French and UK markets.
What This M&A Means:
The merger with Point will provide TS3 with the backing to enhance its existing development and investment capabilities. For Point, the acquisition further strengthens its market leading UK position and TS3’s solutions and expertise will complement those of its existing UK business, Commidea.
“TS3 has a strong reputation as a trusted and innovative service provider in the UK market, with a management and operational team that brings additional capabilities and strengths to Point” says Johan Tjärnberg, CEO, Point.
TS3 brings an in-depth knowledge of transaction services operations combined with extensive technical capabilities and a wide range of clients operating across many market sectors.
“Joining forces with Point is an exciting and logical next step in the growth of TS3” explains Bill Tennent, Managing Director of TS3.
“Becoming part of Europe’s leading and fastest growing payments service provider will allow us to develop our market position more quickly and from a stronger, international base which will clearly benefit both our current and future customers. Our solutions and skill set complement those of the other parts of the Point group and we look forward to contributing to the Group’s continued success.”
TS3, which is based in Dunfermline, Scotland will report into Simon Wilding, Point International’s newly appointed Senior Vice President and Head of UK and Ireland. Simon Wilding commented ‘I am genuinely excited about the opportunities that the addition of TS3 creates for Point in the UK and throughout the Group. Both TS3 and Commidea have outstanding reputations for innovation and service delivery and harnessing their combined capabilities will allow us to further consolidate our market leading position.’Managing Director Bill Tennent and his management will continue in the company.