Almost as soon as ViVOtech could raise their auction paddle, Ingenico scooped up Hypercom’s U.S. assets from Verifone today for a bargain basement multiple of x0.88, or $54 million. The fine print indicates, however, that Ingenico is only getting Hypercom’s existing terminal business, while the company’s networking products will remain with Verifone. The deal is expected to close immediately before the Verifone / Hypercom merger is completed sometime in the second half of 2011.
Links to the original press releases and related news items follow….
Verifone press release: http://www.verifone.com/2011/verifone-and-hypercom-announce-agreement.aspx
Related article: http://www.rttnews.com/ArticleView.aspx?Id=1590044
Related article: http://www.finextra.com/News/Fullstory.aspx?newsitemid=22429
Related PaymentsJournal featured story: http://paymentsjournal.com/Featured_Stories/ViVOtech_Attempts_to_Mark_Territory_on_Hypercom_US_Assets/