Columbus’ Synovus and TSYS transforming in major business deals. Here’s a recap
Columbus’ financial services industry has started 2026 with significant shakeups after two major players announced last year landmark deals that reshape their operations, market reach and name.
Fidelity Information Services (FIS) has finalized its $13.5 billion acquisition of Global Payments’ Issuer Solutions, formerly known as TSYS. Meanwhile, Synovus has merged with Pinnacle Financial Partners in an $8.6 billion all-stock transaction.
These moves mark a new era for TSYS and Synovus, companies that were born and raised in Columbus. Here’s a recap of both deals.
TSYS acquisition
On Jan. 12, FIS completed its acquisition of Global Payments’ Issuer Solutions, known as TSYS.
TSYS has been renamed to FIS Total Issuing Solutions. The company processes more than 40 billion transactions annually and maintains partnerships with over 150 financial institutions across 75 countries, according to the FIS news release.
“We are pleased to have closed this strategic acquisition ahead of schedule, enabling us to start 2026 in a strong position to deliver greater value to our financial institution and corporate clients,” Stephanie Ferris, chief executive officer and president of FIS, said in the news release.
According to the company, the acquisition is expected to generate an additional $500 million in incremental adjusted free cash flow in 2026, increasing to $700 million by 2028. FIS said the deal allows it to access a global issuer market opportunity valued at $28 billion.
A representative from TSYS did not respond to the Ledger-Enquirer’s request for comment.
Synovus merger
On Jan. 1, Synovus Bank completed its merger with Nashville-based regional bank Pinnacle Financial Partners. The companies confirmed the merger in a news release July 24.
The combined company now operates under the name of Pinnacle Financial Partners and Pinnacle Bank, comprising 400 locations in nine states throughout the Southeast and Atlantic Coast, along with multiple banking specialties nationwide, according to the company’s news release.
The agreement was unanimously approved by the boards of directors for Synovus and Pinnacle.
Kevin Blair, former CEO of Synovus, now is Pinnacle Bank’s CEO. Terry Turner, Pinnacle’s former CEO, now is chairman of the board.
This merger creates the largest bank in Tennessee and the largest bank holding company in Georgia, according to the news release.