Georgia-based payment solutions company TSYS announced the purchase of merchant-solutions provider TransFirst. The $235 billion, all-cash transaction will offer TSYS access to TransFirst’s 235,000 U.S.-based SMB clients. The deal is expected to enhance the ecommerce and omnichannel offerings of TSYS—making it the sixth-largest U.S. acquirer based on net revenue—and will boost its SMB client base to upwards of 645,000 merchants.

TransFirst’s 1,000 U.S.-based employees will join the TSYS workforce of 10,500. Upon closing the transaction, Mark Pyke, senior EVP and president of the TSYS merchant segment, will vacate his six-year career at TSYS, and be replaced by John Shlonsky, TransFirst president and CEO.

In a video, Troy Woods, chairman, president and CEO of TSYS, discusses the transaction with Shlonsky:

https://youtu.be/nRU1FLnsgO4

The deal is expected to close next quarter.

TSYS last demoed at FinovateAsia 2013 in Singapore, where the company debuted Authorization Controls.