August 04, 2011 05:27 PM Eastern Daylight Time
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Hypercom Corporation (NYSE: HYC) announced today the completion of its merger with a wholly-owned subsidiary of VeriFone Systems, Inc., following which Hypercom is now a wholly-owned subsidiary of VeriFone. In connection with the closing, Hypercom Corporation divested its U.S. payment solutions business to The Gores Group, LLC as part of its settlement with the U.S. Department of Justice, immediately prior to the merger closing. In addition, immediately prior to the merger closing, Hypercom Corporation divested its UK and Spain businesses to a wholly owned subsidiary of KleinPartners Capital Corp.
“On behalf of our shareholders, I thank Hypercom's employees for a tremendous track record of success and integrity that has created significant value. The combined company should create new growth opportunities and deliver a significant opportunity for our shareholders to benefit from being owners of an even stronger global company.”
"In fewer than four years, Hypercom has increased revenue from almost $250 million to nearly $470 million and built strong relationships with hundreds of customers in many regions across the world,” said Philippe Tartavull, Chief Executive Officer and President of Hypercom.
“On behalf of our shareholders, I thank Hypercom's employees for a tremendous track record of success and integrity that has created significant value. The combined company should create new growth opportunities and deliver a significant opportunity for our shareholders to benefit from being owners of an even stronger global company.”
Contacts
Investors:
Hypercom Corporation
Scott M. Tsujita, 480-642-5161
stsujita@hypercom.com
or
Innisfree M&A Incorporated
Jennifer Shotwell, 212-750-5833
or
Larry Miller, 212-750-5833
or
Media:
Pete Schuddekopf, 480-642-5383
pschuddekopf@hypercom.com
or
Joele Frank, Wilkinson Brimmer Katcher
Steve Frankel, 212-355-4449
or
Tim Lynch, 212-355-4449
Hypercom Corporation
Scott M. Tsujita, 480-642-5161
stsujita@hypercom.com
or
Innisfree M&A Incorporated
Jennifer Shotwell, 212-750-5833
or
Larry Miller, 212-750-5833
or
Media:
Pete Schuddekopf, 480-642-5383
pschuddekopf@hypercom.com
or
Joele Frank, Wilkinson Brimmer Katcher
Steve Frankel, 212-355-4449
or
Tim Lynch, 212-355-4449
