VeriFone and Hypercom have announced
a definitive agreement under which VeriFone will acquire Hypercom in an all-stock transaction valued at approximately $485 million.
"Consistent with our vision as a global leader in secure electronic payment solutions, we have placed strategic focus on replicating our North American success in key markets in continental Europe," said VeriFone CEO Douglas G. Bergeron. "Hypercom has established itself in a number of important European markets, and this acquisition is an excellent and complementary way for us to accelerate our overseas growth, increase innovation and build value for our shareholders."
A replay of the investor call will be available at VeriFone’s website (http://ir.verifone.com/
) until November 24, 2010.