Point acquires TS3
The companies said in a joint statement that the merger would provide TS3 with the backing to enhance its existing development and investment capabilities. Point said the acquisition would strengthen its UK position, with TS3’s solutions and expertise complementing those of Commidea, Point's existing UK business.
Johan Tjärnberg, CEO, Point said: “TS3 has a strong reputation as a trusted and innovative service provider in the UK market, with a management and operational team that brings additional capabilities and strengths to Point.”
Bill Tennent, managing director of TS3 commented: “Becoming part of Europe’s leading and fastest growing payments service provider will allow us to develop our market position more quickly and from a stronger, international base which will clearly benefit both our current and future customers. Our solutions and skill set complement those of the other parts of the Point group and we look forward to contributing to the Group’s continued success.”
Dunfermline based TS3 will report into Simon Wilding, Point International’s newly appointed Senior Vice President and Head of UK and Ireland. Tennent and his management would continue in the company, said the statement
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