Payment technology provider Hypercom’s US
payments systems business is to be sold off to Ingenico in a $54m
cash deal.
The transaction is expected to close
immediately prior to the completion of payment solutions provider
VeriFone’s acquisition of Hypercom, which is due to commence in the
second half of 2011.
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Following the completion of the merger,
VeriFone will retain Hypercom’s non-payment terminal networking
products operations in the US.
“The acquisition of Hypercom’s US business is
a major step in our strategic development and is notably aimed at
accelerating the adoption of contactless NFC technology,” said
Philippe Lazare, CEO of Ingenico.
“This will enable us to accelerate our
presence in the US through a combination of innovative product
offers, expertise and extensive customer base.”
In a bid to aid the integration of the two
business operations, Thierry Denis has been appointed president of
Ingenico North America. Denis has spent 17 of his 20 years of
service concentrating on Ingenico’s Asia-Pacific business, where he
was responsible for several multi-cultural markets.
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