Hypercom Corporation (NYSE:HYC) today announced that is has acquired the assets of ACG Group Pty Limited, a provider of installation, technical support and help desk services for point-of-sale equipment in Australia.
The acquisition builds on Hypercom's 28 years as a leading provider of card payment terminals in Australia and expands its service business footprint in the Asia-Pacific marketplace, providing merchant support for all point-of-sale terminal providers in Australia as well as a platform for continued expansion throughout the region.
Hypercom's point-of-sale products are used by leading Australian banks and merchants. The company recently appointed industry veteran John Tait as General Manager for Hypercom's Australia, New Zealand and Pacific Region to drive sales, service and support in the area. The acquisition of ACG is expected to further broaden that customer base by strengthening the services component of Hypercom's offerings. Hypercom will continue to operate out of its Australian headquarters while using ACG as its services arm.
"ACG complements and expands our business in Australia, a vibrant market where Hypercom currently has a strong presence, directly and through key distribution partners. Now we will not only be selling Hypercom point-of-sale terminals and networking devices, but installing, servicing and supporting them for banks, terminal suppliers regardless of brand, and merchants," said William Keiper, Hypercom CEO. "Hypercom's growing services and software business supports terminals manufactured both by Hypercom and our competitors worldwide. We expect to continue to grow it globally."
Bryan Meredith, ACG Principal and Managing Director, added, "We are delighted to become a part of the Hypercom global family. Our clients and employees will benefit from the strength, stability and breadth of capabilities offered by Hypercom."
John Andrews, Hypercom Senior Vice President, Global Customer Service, commented, "ACG is an outstanding company that matches the dedication to quality and service that is the cornerstone of Hypercom's service business. Their nearly 500 employees and contractors handle around 10,000 service calls and 20,000 inbound first-level help desk calls every month for POS equipment provided by a variety of global terminal suppliers covering substantially all of Australia. "
The transaction closed today, February 8, 2007, with ACG Group becoming part of Hypercom's Australian subsidiary. Financial details were not disclosed.