Hypercom confirms VeriFone systems merger
Talks between Hypercom and VeriFone have led to a merger agreement deal, it has been announced
Sales negotiations between Hypercom and VeriFone have led to an agreement over a merger, it has been revealed.
Hypercom Corporation has announced that its stockholders have approved a merger deal for the acquisition of the firm by VeriFone. The news was revealed during a meeting of stockholders by chairman of the board Norman Stout.
Overall, the merger between the two firms was backed by more than 99 per cent of votes. This constituted for approximately 80 per cent of the total number of shares outstanding, Hypercom said.
The merger was first proposed in November last year and is expected to be completed by the second half of 2011.
Hypercom is a global secure electronic payment and digital transaction technology provider and has customers in more than 130 countries.
Its products are used by firms in the financial, petroleum, self-service, healthcare and transportation sectors and it is the third largest provider of electronic payment solutions in the world.