Global Payments and TSYS announced that they have entered into a definitive agreement to combine in an all-stock merger of equals. Upon closing, the Board of Directors of the combined company will consist of 12 members, 6 of whom will be from the Board of Directors of Global Payments and 6 of whom will be from the Board of Directors of TSYS. Troy Woods will become Chairman of the Board of Directors and Jeff Sloan will serve as Chief Executive Officer of the combined company and a Board member.

Cameron Bready will become President and Chief Operating Officer of the combined company and Paul Todd will become Chief Financial Officer. The executive leadership team will be comprised equally of individuals from Global Payments and TSYS with a demonstrated track record of leadership and innovation in payments and significant expertise in driving value creation. The combined company will be named Global Payments and will have dual headquarters in Atlanta and Columbus, Georgia.

Global Payments will conduct its issuer solutions business under the TSYS name, and NetSpend will continue to be the go-to-market name for the consumer solutions business.