Columbus, Ga.-based payment processor TSYS said Monday that it has completed its purchase of Austin-based financial services company NetSpend Holdings Inc., a deal worth about $1.4 billion.
The sale converts NetSpend into a wholly owned subsidiary of TSYS, and the NetSpend name and product brands will stay the same, company officials said. NetSpend’s operations will remain in Austin, and NetSpend’s CEO Dan Henry and president Chuck Harris will continue to lead those operations and will report to Troy Woods, president and chief operating officer of TSYS.
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