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CoverStory

headcount attrition that frequently occurs when company used POS technology as both a platform and
there is a change in control, but don't wait too long differentiator. "We had a product that couldn't be easily
to provide employees of the target company assur- duplicated," he said. "The Harbortouch mantra was to go
ances they are still needed." out and win and retain customers. This emboldened us to
enhance and fortify our position in Food and Beverage.
5. Completing the transition: Completing a cor- Today we have great coverage in all hospitality verticals."
porate merger requires detailed planning sur-
rounding conversion of data, effective commu- Looking ahead, Isaacman anticipates more merger and
nication to acquired personnel, and putting the acquisition activity. With Ingenico Group providing
right management team in place to manage it, Mc- gateway services and Verifone's potential acquisition by
Crohan stated. Francisco Partners, it's clear companies can no longer
compete by selling boxes, he said, adding that Visa
Pucci said this critical phase involves fit, price owns CyberSource – is that the line or will they move
and execution. "Have a good business fit with further down the field, past payments' most fundamental
compatible geographies, cultures and synergies," boundaries? "We're in for a rollercoaster ride over the
he stated. "Have the right valuation and effective next few years and with so much noise in the market, we
execution by providing a clear management struc- don't always know what's going on," he said. "We all got
ture without too many layers." He recommended the news last night that Paysafe is acquiring iPayment;
having a clear line of command; dual roles such we haven't seen the end of it yet. As mergers continue, it
as co-CEOs can create delays and distractions. wouldn't shock me to see the field narrow from five or six
Clarify who's doing what as you continue to run a super players to three or four in a few years."
business. As salespeople pick up extra territories,
they still have to maintain existing relationships, Pressure test
he said. It's always exciting when two organizations with similar
philosophies, values and interests come together,
6. Maintaining consistent messaging, brand noted Mike Peters, President, Partner Solutions at TSYS
promise: Most experts agree when a merger is Merchant Solutions. Peters was Senior Vice President of
completed, the real work can begin. Companies Commercial Services at TransFirst when TSYS acquired
must act decisively to ensure the new entity re- the company. "And now we're the quiet giant, going
flects the former company's brand promises and about our business, acquiring new partners, merging
heritage. "It starts with having a clearly defined them into our organization and moving on," he said. "Our
strategy based on real value delivered to a clearly philosophy has always been, 'how can we help you grow
defined set of customers," Payment said. "Then, your business?' We support our partners by bringing
being transparent with stakeholders about the strong product sets and people resources together."
sacrifices required to deliver against this vision
once the deals are done. Transforming billion-dol- Peters described TSYS' acquisition of Cayan LLC in
lar global companies through acquisitions is never December 2017 as a perfect value exchange. "We needed
smooth." their product suite and they needed our scale," he said.
Team effort required The Cayan merger came together quickly, without fanfare,
he noted. Through the diligence process, we recognized
Jared Isaacman, CEO of Shift4 Payments LLC, presided Cayan's strengths and understood where we needed to
over six acquisitions over the last nine months, expand and contract. "The week the deal closed, we met
acknowledging it would not have been possible without with the TSYS and Cayan leadership teams," he recalled.
the total dedication of everyone on his team. There was a "We got down to business, without egos or saber rattling,
multitude of rebranding that had to be done, but he and and agreed to meet the folks who will actually get this
his employees felt they had to seize the opportunity to stuff done."
dominate the food and beverage and hospitality markets.
And the organizations they acquired shared that belief Executives can formulate a plan and say let's make this
and sense of urgency, he said. happen. But you need to spend time with the people who
will drive the message down into the organization, Peters
"You will meet immense headwinds if you and your said. The process is similar to assembling a giant puzzle:
partner have a different approach to getting things done," you begin by completing the perimeter and lining up the
he stated. "We shared a universal belief that we and our pieces.
new partners were coming together and our collective
output would be greater than what we'd be able to do "Don't assume each area of functionality has been buttoned
independently." up in the diligence process," he added. "Pressure test the
knowledge base. Balance meetings of the mind with cross-
On the positive side, not a lot had changed since the functional pieces on the operational side."
company's 2008 debut as Harbortouch, he noted. The

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