Source: Hypercom Corporation
Hypercom Corporation (NYSE: HYC) today announced the completion of its acquisition of Thales SA's e-Transactions business, bringing an expanded team of industry experts to lead the now nearly one-half billion dollar revenue company.
The e-Transactions business line is a leading provider of secure card payment solutions in some of Europe's largest markets, including France, Germany, Spain and the United Kingdom. With the acquisition, Hypercom becomes the second largest provider of electronic payment solutions and services in Western Europe, and solidifies its position as the third largest provider globally.
"We believe this is a transformative acquisition that will make Hypercom significantly more competitive. The acquisition will strengthen our ability to deliver high-caliber, high-security products to the market that we believe will meet or exceed our customers' needs and out-perform the competition. We expect the combination will increase our scale, offer synergies and create an accretive cash EPS transaction within 24 months," said Philippe Tartavull, Chief Executive Officer and President, Hypercom Corporation.
The combined company has pro forma revenue of approximately $500 million. With the completion of the acquisition, Hypercom becomes one of the top providers of integrated and unattended payment systems in Europe, with a presence in the retail petroleum, hospitality, vending and other specialized vertical markets. It holds a leading position in Germany, and becomes stronger in France, Spain, and the United Kingdom. The Company also gains entry into Belgium and adds to its position in Sweden.