TNS to acquire unattended payments provider Advam
Transaction Network Services has agreed to acquire Advam, a payments specialist in the unattended and e-commerce payments segments. The acquisition will allow TNS to expand its reach in payments markets across the United States, Europe and Asia Pacific, according to a press release.
Adelaide, Australia-based Advam caters to the self-service, parking, airport, shopping center and government sectors, and processes millions of transactions and reservations daily in over 20 countries, the release said.
Advam has been a customer of TNS in the U.K. since 2011; as part of TNS, Advam will be able to expand its services globally through access to its parent company's extensive connections with banks, acquirers and processors.
The acquisition brings TNS additional offices in Australia, New Zealand, the U.K. and the U.S. Approximately 110 Advam employees will be joining the company following the close of the transaction, which is now pending regulatory approval.
TNS transaction delivery services are used by many of the top banks, transaction processors and ATM deployers around the world, according to the release. The company is a Level 1 PCI DSS-certified service provider and a global board member of the ATM Industry Association.