Hypercom Corporation has acquired the payment security business of Sweden-based ICLís Financial Terminals division. ICL Financial Terminals provides secure payment devices, smart card products, and self-service POS terminals. The new acquisition will be operated by Hypercom as a subsidiary that will market its products and services under the name Hypercom Financial Terminals AB.
"This acquisition strengthens our expertise in smart cards and security, provides us with an ëin-regioní development and service partner, a strong entry into the Nordic region and access to products for those markets that require very highly secure products," said Jairo E. Gonzalez, president, Hypercom International. "Moreover, it provides us with additional capabilities for the multi-lane market, and clearly enhances our position as the single-source global provider of end-to-end software, networking and hardware solutions."
"ICL is an IT services company and manufacturing hardware is not a core part of our business anymore. This gives us the ability to choose the ëbest of breedí solutions from specialist suppliers such as Hypercom, according to our customersí needs," said Magnus Larzon, business unit director for ICLís Financial Services Division in Sweden. "This agreement not only includes a transfer of assets, products, and business, but also includes an agreement that ICL act as a European channel for these solutions on a non-exclusive basis," Larzon said.
As you know from reading The Green Sheet, this is not Hypercomís first foray overseas. In the last two years alone, Hypercom has opened four offices and appointed 22 distributors to serve current and potential customers in Europe, the Middle East, and Africa.
