Dublin-based payment company Trintech has acquired VeriFone's ePS product line in a deal valued at $3.3 million.
VeriFone ePS is an e-commerce payment management solution providing payment switching, prepaid and Internet functionality. The package is aimed at large retailers, financial institutions, network operators and other multiple service providers.
The acquisition gives Trintech the rights to the source code to releases of all related ePS products and technologies, along with an installed base of 35 customers.
John McGuire, chief executive officer of Trintech, says the ePS customer base affords "a great opportunity to broaden our market presence and cross sell existing Trintech technology."
Additionally, integration of ePS with Trintech's PayWare suite of products will significantly reduce the investment and time to market for new features demanded by customers, says McGuire, including support for gift cards, enhanced prepayment options, and cheque authorisation.
As part of the agreement, VeriFone is joining Trintech's PayWare Partner Programme as a reseller of PayWare products.