Merchant e-Solutions (Mes), a California-based eCommerce payments company, has acquired Columbus Bank and Trust (CB&T) merchant business from Georgia-based financial services holding company Synovus.
As part of the 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.
Sharif Bayyari, chairman and CEO of MeS, said: “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. 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.”
Richard Anthony, chairman and CEO of Synovus, said: “This is a positive, strategic transaction and will also provide us with significant capital to further strengthen our reserves and fund future growth opportunities. Merchant e-Solutions will continue to provide the high levels of service and product solutions our customers expect.”