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Table of Contents

Lead Story

Getting a bead on mobile merchants

News

Industry Update

Latest interchange increases - waving a red flag?

And the breach goes on

Durbin Amendment regs delayed temporarily

Durbin Amendment draws opposition

Ingenico gaining slice of U.S. market

Features

The experiences of an entrepreneur

Ken Musante
Eureka Payments LLC

Research Rundown

ISOMetrics:
The future of mobile payments

Selling Prepaid

Prepaid in brief

The secret to selling gift card programs

Metabank's cautionary tale

Views

ACH finds volume in consumer apps

Patti Murphy
The Takoma Group

What a bank core processor means to you

Brandes Elitch
CrossCheck Inc.

Circumvent cyber theft through education

Tony Griffith
Integration Specialist

Education

Street SmartsSM:
Spring cleaning the ISO house

Bill Pirtle
MPCT Publishing Co.

Smart phones, dumb habits

Dale S. Laszig
Castles Technology Co. Ltd.

Memorable ISO legal catastrophes

Adam Atlas
Attorney at Law

Old fraud schemes resurfacing?

Nicholas Cucci
Network Merchants Inc.

Company Profile

MagTek Inc.

New Products

An RDC solution for the Apple Mac

RDC Select for Panini I:Deal
Panini

Drive compliance with a PCI dashboard

MyPCIDashboard
Panoptic Security Inc.

Inspiration

Pause before you walk the tradeshow floor

Departments

10 Years ago in
The Green Sheet

Forum

Resource Guide

Datebook

Miscellaneous

2011 Calendar of events

Skyscraper Ad

The Green Sheet Online Edition

April 25, 2011  •  Issue 11:04:02

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Ingenico gaining slice of U.S. market

VeriFone Inc. and Hypercom Corp. agreed on April 4, 2011, to sell to Ingenico S.A. Hypercom's U.S. payment systems business, which reportedly achieved revenues of about $61 million in 2010. The aggregate purchase price is $54 million in cash, subject to post-completion price adjustments.

Pending regulatory approval, the transaction is expected to close immediately before completion of VeriFone's acquisition of Hypercom, which is expected to occur in the second half of 2011. The sale represents part of the divestiture previously described by VeriFone in a January 2011, filing in which VeriFone stated it would divest Hypercom's U.S. assets following its acquisition of Hypercom. The proposed acquisition of Hypercom by VeriFone was disclosed in November 2010; it was approved by Hypercom shareholders in February 2011. The merger is expected to enable VeriFone to expand its business in the European market.

ViVOtech, a near field communication (NFC) solutions provider, indicated in a March 31, 2011, statement that it had also approached VeriFone about acquiring Hypercom's U.S. payment systems assets.

Benefits for VeriFone and Ingenico

"VeriFone will retain the U.S. network products operations of Hypercom, and Ingenico will take over the former Hypercom payments systems business here," stated Pete Bartolik on behalf of VeriFone Media Relations. To facilitate integration of the affected Ingenico and Hypercom operations, industry veteran Thierry Denis was appointed President of Ingenico North America. For the past 17 years, Denis has been responsible for Ingenico's business expansion in the Asia-Pacific region.

"The acquisition of Hypercom's U.S. business is a major step in our strategic development notably aimed at accelerating the adoption of contactless NFC technology," Phillipe Lazare, Chief Executive Officer of Ingenico, said in a statement. "This will enable us to accelerate our presence in the U.S. through a promising combination of innovative product offers, expertise and extensive customer base."

Lazare added that the acquisition will strengthen and expand Ingenico's presence in the U.S. payments sphere, which is one of Ingenico's "key strategic target markets." According to Ingenico, Hypercom has built a strong customer base across such channels as bankcard, multilane retail and value-added services, and these will benefit from Ingenico's Telium product line, which includes contactless solutions.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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