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May 28, 2019

King & Spalding Advises TSYS in its $54 Billion Merger of Equals with Global Payments

ATLANTA & NEW YORK, May 28, 2019 - King & Spalding advised TSYS (NYSE: TSS), a leading global payments provider, in its all-stock merger of equals with Global Payments (NYSE: GPN), a worldwide provider of payment technology and software solutions. The transaction will create a $54 billion company with market leading positions in integrated payments, owned software in both merchant and issuing, increased scale in ecommerce and omnichannel solutions, and further exposure to faster growth geographies and digital payment trends. Upon closing of the transaction, TSYS shareholders will own 48% of the combined company, and Global Payments shareholders will own 52%.  The Board of Directors of the combined company will be split equally among TSYS and Global Payments directors, with TSYS CEO Troy Woods serving as Chairman of the Board of Directors and Global Payments CEO Jeff Sloan serving as CEO of the resulting entity. 

The K&S team representing TSYS is led by Jim Woolery and Keith Townsend, and includes Rob Leclerc, Nathan Mihalik, Alison Bazinet, Johnny Ellis, Julie Paret, Audrey Rogers, and Jonathan Wu. Enrico Granata, Alana Griffin, and Elliott Tapp also advised on M&A, corporate and securities matters. Ken Raskin, Mark Kelly, Lucretia Messiah, and Tabitha Crosier advised on employee benefits matters. Jeff Spigel, Norm Armstrong and John Carroll advised on regulatory matters. Hap Shashy, and Ariana Wallizada advised on tax matters. Cecilia Hong advised on financing matters. Matt Nichols advised on public finance matters. Jill McWhirter, Christina DuVal and Kent Jordan advised on intellectual property/privacy matters. Rami Mosrie, Chrissy Oberg, and Autumn Summers also assisted on certain corporate matters.