VeriFone Hypercom Optimum

VeriFone works in the field of security technologies of electronic payments. The company proposes solutions, services and conducting examination which allow to perform payment transactions according to transactions and services with added value in outlets.

Business in Russia

Active work of VeriFone in the Russian market began in strategic partnership with INPAS company in 1995. As a result of this work by this moment close cooperation with the largest financial institutions of the country is set up, the share of the company in the market increased.

History

2018: Sale to private investors for $3.4 billion. Leaving from the exchange

In April, 2018 it was announced transition of VeriFone Systems to private hands, the company will leave the exchange. The producer of bank terminals the group of investors led by Francisco Partners fund and with the assistance of the Canadian institutional investor of British Columbia Investment Management buys.

Buyers will pay $2.58 billion own means at the rate of $23.04 for the stock of the company for acquisition of VeriFone that is 54% more than a quotation rate by the time of closing of the exchange on April 9. Taking into account debts of VeriFone the cost of the transaction is $3.4 billion.

The producer of bank terminals Verifone is sold for $3.4 billion and leaves the exchange

It is going to close the transaction in the third quarter 2018. However conditions the agreement provide the special period during which (till May 24) Board of Directors and consultants of VeriFone can consider alternative offers. At the same time the Board of Directors supported the transaction of Francisco Partners and urged shareholders to make the same.

After the statement for sale of VeriFone of a stock of the company rose in price for 53% up to $22.89 during additional biddings after closing of the exchange on Monday, April 9, 2018. Before this rise since the beginning of the 2018th quotations sank for 15%.

Commenting on the transaction, the partner of Francisco Partners company Jason Brein noted that VeriFone only begins to turn from equipment supplier into the supplier of the payment and commercial solutions, best in the class.

According to the Bloomberg agency, VeriFone, whose bank terminals can be met in many retail stores, began to experience difficulties because of a delay with transition to technology of cards with chips to communications. The reason — the dragged-out certification process in the USA as a result of which the company delayed sales of the new equipment. Besides, the vendor faces the growing competition from payment startups from Silicon Valley, like Square which propose the improved software solutions and more transparent prices.^[1]

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