Ingenico to buy Hypercom US for US$ 54 million
The VeriFone, which acquired Hypercom in November 2010 (cf. Smart Insights Weekly #47-10), was not allowed to buy the US part of Hypercom by the Antitrust Division of the US Department of Justice. Thus, Ingenico realized it’s another acquiring attempt (cf. SIW #07-08).
This transaction is a major step in Ingenico’s plan to enhance its activities in the US payment solutions market. In the United States, Hypercom has built a strong customer base across different channels including Bankcard, multi-lane retail and value-added services. These customers will benefit from Ingenico’s Telium range of products, including contactless solutions.
In order to facilitate the integration process, Thierry Denis, after more than 20 years with Ingenico, 17 of them in Australia and Southeast Asia, has been appointed President of Ingenico North America. Denis, who has a technical background ranging from research and development to software, became managing director of that region in 2006. He replaces Chris Justice, who is now overseeing mobile payments.