VeriFone has completed the acquisition of
Point, the Stockholm based provider of point of sales services for
retailers.
A joint statement said that
VeriFone intends to extend the Point platform throughout the
region and beyond, with the aim of creating the world’s largest
infrastructure for rapid deployment of alternative payments and NFC
mobile commerce.
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VeriFone CEO Douglas G Bergeron said:
“This acquisition supports our vision of
offering retailers everywhere a managed service to easily accept
all existing payment types, including the evolving alternative and
mobile payment methods being offered by traditional card brands and
new entrants such as Google, PayPal and Groupon.”
The news comes after Cards
International reported in November 2011 that the acquisition
will
cost around €600 million ($820million).
To finance the Point acquisition and refinance
existing debt, VeriFone has executed a credit agreement for $1.5
billion (€1.1billion) led by J.P. Morgan Securities LLC, Merrill
Lynch, Pierce, Fenner & Smith, Wells Fargo Securities, LLC,
Barclays Capital and RBC Capital Markets.
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