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Tuesday, August 29, 2006

Big deal in Newton


Transaction Systems Architects Inc. is expected to announce today the acquisition of P&H Solutions Inc. for $150 million, according to the Wall Street Journal.

P&H, of Newton, produces Web-based software used by some of the country's largest banks including Sovereign Bank, TD Banknorth, and Wells Fargo.

For the fiscal year ending in September 2007, the company expects P&H to contribute revenue of $40 million to $42 million. TSA, of Omaha, Neb., makes software that facilitates electronic financial transactions involving credit cards, debit cards and other systems.

-- Dow Jones

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