17 October 2017

VeriFone in talks to buy Gemalto POS business

21 October 2010  |  8640 views  |  0 handshake

VeriFone has moved to boost its European presence, entering into exclusive talks to buy the point-of-sale business of Gemalto as part of a wider strategic partnership between the two firms.

US-based VeriFone says Gemalto's France-based POS business would "serve as an ideal launching pad for VeriFone's planned European expansion campaign". The value of any deal was not disclosed.

Only last month VeriFone sought to expand its footprint in Europe through a £337 million hostile bid for another rival card terminal outfit, Hypercom. The move was vigorously rejected by Hypercom.

VeriFone and Gemalto have also agreed to team on new chip card offerings based on the global EMV payment standard. They argue that this comes as US retailers and card networks increasingly acknowledge chip card and contactless technologies as a core component of security infrastructure.

Meanwhile, Gemalto will become the preferred supplier of Machine-to-Machine (M2M) wireless modules and related technology for VeriFone payment systems.

Douglas Bergeron, CEO, VeriFone, says: "This unique partnership between world leaders assists both companies in focusing on key strategic areas while relying on a trusted partner to provide complementary solutions. We look forward to developing with Gemalto innovative EMV solutions, in particular for the US market.

Separately, Gemalto has posted third quarter revenues of EUR500 million, up 25% at historical rates on the same period the previous year.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

VeriFone makes hostile bid for Hypercom

VeriFone makes hostile bid for Hypercom

30 September 2010  |  8967 views  |  0 comments
Gemalto buys Todos

Gemalto buys Todos

08 April 2010  |  8304 views  |  0 comments
Gemalto unveils EMV card for US travellers

Gemalto unveils EMV card for US travellers

12 February 2010  |  10649 views  |  1 comments
Gemalto books EUR10 million provison against German date-change fiasco

Gemalto books EUR10 million provison against German date-change fiasco

13 January 2010  |  11655 views  |  0 comments
Gemalto in talks to buy Xiring banking business

Gemalto in talks to buy Xiring banking business

23 November 2009  |  7802 views  |  0 comments
VeriFone and Heartland legal spat escalates

VeriFone and Heartland legal spat escalates

03 November 2009  |  11701 views  |  0 comments
Gemalto acquires handheld security firm Trusted Logic

Gemalto acquires handheld security firm Trusted Logic

08 September 2009  |  6613 views  |  0 comments
Gemalto falls on Wavecom bid

Gemalto falls on Wavecom bid

06 October 2008  |  5759 views  |  0 comments
Verifone bullish on second half outlook

Verifone bullish on second half outlook

20 August 2008  |  4375 views  |  0 comments
Verifone CFO quits after accounting probe

Verifone CFO quits after accounting probe

02 April 2008  |  7571 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.capgemini.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14794 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8142 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7465 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
6765 views comments | 13 tweets | 7 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6107 views comments | 8 tweets | 16 linkedin

Featured job

A minimum of £200K (not a limiting factor)
London

Find your next job