In the News:
Merchant e-Solutions Completes Acquisition and Strategic Partnership with Synovus
April 12, 2010, Redwood Shores, CA -Merchant e-Solutions, Inc (MeS), a Redwood Shores, California eCommerce payments company today announced it has successfully completed the acquisition of the Columbus Bank and Trust (CB&T) merchant business from Synovus, the Columbus, Georgia based financial services holding company. As part of this acquisition MeS and Synovus have agreed to a 10-year joint marketing agreement to continue providing payment processing services for new Synovus bank merchant customers.
"This transaction continues and expands our 10 year old partnership with Synovus for many years to come and provides MeS and Synovus with significant growth opportunities," said Sharif Bayyari, MeS Chairman and CEO. "Synovus and its affiliate bank merchant customers will continue to get the superior service and support they deserve and have come to expect from their merchant service provider."
"This is a positive, strategic transaction and will also provide us with significant capital to further strengthen our reserves and fund future growth opportunities," said Richard Anthony, Synovus Chairman and CEO. "Merchant e-Solutions will continue to provide the high levels of service and product solutions our customers expect."
About Merchant e-Solutions
Merchant e-Solutions, founded in 1999, provides eCommerce payment processing solutions for merchants and banks. Merchant e-Solutions currently processes more than $14 billion dollars in payments for more than 65,000 merchants, supporting 150 global currencies and all major credit, debit and alternative payment solutions. The company specializes in services for e-commerce and card-not-present merchants and provides a comprehensive suite of payment solutions that are PCI compliant and designed to reduce merchant risk exposure. Merchant e-Solutions is headquartered in Redwood City, CA, with operations in Spokane, WA, and satellite offices in Minneapolis, MN, and Columbus, GA. For more information, go to http://www.merchante-solutions.com.
About Synovus
Synovus (NYSE; "SNV") is a financial services holding company with approximately $33 billion in assets based in Columbus, Georgia. Synovus provides commercial and retail banking, as well as investment services, to customers through 30 banks, 327 offices, and 461 ATMs in Georgia, Alabama, South Carolina, Florida and Tennessee. The company focuses on its unique customer service delivery model, position in attractive Southeast markets and commitment to being a great place to work to ensure unparalleled customer experiences. See Synovus on the Web at http://www.synovus.com.
Contact:
Jim Aviles
Chief Operating Officer
Merchant e_Solutions
Phone: 650.628.6830
E-Mail: javiles@merchante-solutions.com
