Tuesday, February 19, 2013

NetSpend Acquired By TSYS

Austin-based prepaid debit card provider NetSpend has been acquired by payment systems firm TSYS, in a deal worth approximately $1.4 billion, the companies said Tuesday afternoon. TSYS said it will pay $16.00 in cash for each share of NetSpend common stock. The two said the deal is expected to close in mid-2013. NetSpend is publicly listed on the NASDAQ as NTSP.