Tuesday, August 29, 2006
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