TSYS to be Spun Off - Electronic Transactions Association

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TSYS to be Spun Off

Processing powerhouse TSYS will become an independent public company under a plan unveiled by SYNOVUS, which currently owns about 80 perxcent of outstanding TSYS shares. Under the plan, holders of SYNOVUS shares will each receive a proportionate share of the TSYS stock held by SYNOVUS.

Officials of both companies say the change in status will not lead to siugnificant changes in the identity or operations of TSYS, which will remain headquartered in Columbus, GA.

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