VeriFone Completes Acquisition Of Hypercom Corporation

VeriFone Systems, Inc., recently announced the completion of its acquisition of Hypercom Corporation. In connection with the closing, VeriFone and Hypercom reached a settlement with the U.S. Department of Justice, following which Hypercom divested its U.S. payment systems business to The Gores Group, LLC.

"This strategic acquisition complements VeriFone's position as a trusted, worldwide leader of the electronic payment industry," said VeriFone CEO Douglas G. Bergeron. "VeriFone plans to grow and enhance all major product lines that existed prior to completing this acquisition, bolstered with the strong VeriFone brand identity."

The new and improved VeriFone represents tremendous geographical, and product and services diversification. Hypercom's presence in a number of important markets enables VeriFone to accelerate overseas growth, increase innovation and build value for customers, employees and shareholders.

VeriFone expects the acquired Hypercom business to contribute in fiscal year 2012 non-GAAP revenue of $350M and non-GAAP fully diluted EPS accretion of 20 to 25 cents.

About VeriFone Systems, Inc.
VeriFone Systems, Inc. ("VeriFone") is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer- facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

For more information, visit www.verifone.com

SOURCE: VeriFone