Mergers & Acquisitions
Hypercom Corporation - Hypercom Corporation Announces Completion of Merger with VeriFone Systems, Inc.
2011 AUG 17 - (VerticalNews.com) -- Hypercom Corporation (NYSE: HYC) announced the completion of its merger with a wholly-owned subsidiary of VeriFone Systems, Inc., following which Hypercom is now a wholly-owned subsidiary of VeriFone. In connection with the closing, Hypercom Corporation divested its U.S. payment solutions business to The Gores Group, LLC as part of its settlement with the U.S. Department of Justice, immediately prior to the merger closing. In addition, immediately prior to the merger closing, Hypercom Corporation divested its UK and Spain businesses to a wholly owned subsidiary of KleinPartners Capital Corp ...read more
Hypercom Corporation - Hypercom Announces Availability of First Quarter 2011 Financial Results
2011 MAY 25 - (VerticalNews.com) -- Hypercom Corporation (NYSE: HYC), the high security electronic payment and digital transactions solutions provider, announced the availability of its financial results for the first quarter ended March 31, 2011.
Net revenue for the three months ended March 31, 2011 was $119.3 million, up $20.5 million or 20.7% compared to $98.8 million in the first quarter of 2010.
"I am extremely pleased with the Company's revenue growth during the quarter. Global demand for Hypercom products and services continued to be strong and we expect demand to continue after the closing of our merger with VeriFone Systems, Inc.," said Philippe Tartavull, Chief Executive Officer and President. "We continue to see a transformation of the payments industry driven by mobile payments and supported by our NFC capabilities. Hypercom continues to develop strong strategic partnerships with the key entrants into this rapidly developing NFC ecosystem. I am also pleased that the planned merger is on schedule for the second half of the year. ...read more
Hypercom Corporation - Hypercom Reports Preliminary Fourth Quarter and Full Year 2010 Financial Results
2011 MAR 3 - (VerticalNews.com) -- Hypercom Corporation (NYSE: HYC), the high security electronic payment and digital transactions solutions provider, announced certain preliminary GAAP and non-GAAP financial results for the three months and full year ended December 31, 2010. The Company expects to announce its final fourth quarter and full year 2010 results on or about Wednesday, March 2, 2011.
The Company expects to report net revenue of approximately $140 million for the three months ended December 31, 2010. Fourth quarter 2010 net revenue is expected to increase approximately $23 million, or 19%, compared to $117 million in the fourth quarter of 2009, driven by strong year-over-year growth in Asia-Pacific (63%), Southern EMEA (24%) and the Americas (15%). Fourth quarter 2010 net revenue is expected to be up approximately 12% over third quarter 2010 net revenue of $125 million, with stronger sequential revenue growth from Northern EMEA (25%), Asia-Pacific (15%), and Southern EMEA (12%). On a constant currency basis, net revenue is expected to increase approximately 23% over the prior-year period and approximately 12% over the third quarter 2010 ...read more
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