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Technology Stocks : VeriFone Holdings, Inc. (PAY)

PAY 35.48

-1.8%

Nov 5 3:59 PM EST

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From: JakeStraw	11/17/2010 9:26:14 AM
	1 Recommendation of 186

VeriFone to Acquire Hypercom to Accelerate Global Expansion finance.yahoo.com Extends VeriFone’s Global Presence into Key Markets in Continental Europe Transaction Expected to be Solidly Accretive to VeriFone “Consistent with our vision as a global leader in secure electronic payment solutions, we have placed strategic focus on replicating our North American success in key markets in continental Europe,” said VeriFone CEO Douglas G. Bergeron. “Hypercom has established itself in a number of important European markets, and this acquisition is an excellent and complementary way for us to accelerate our overseas growth, increase innovation and build value for our shareholders.” “Over the last three years, Hypercom has strengthened customer relationships and increased revenue from almost $290 million to approximately $450 million,” said Philippe Tartavull, Chief Executive Officer and President of Hypercom. “Combined, Hypercom and VeriFone will create new growth opportunities and further drive penetration in the market. This transaction delivers a significant premium to our shareholders who should also benefit from the upside of being owners of an even stronger global company in the fast-growing electronic payment solutions space.”

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