Tuesday, November 15, 2011

VeriFone Acquires European Payment Gateway Firm

San Jose-based Verifone said Monday that it has signed a deal to acquire Point, a Northern European provider of payment and gateway services and solutions for retailers, in a deal worth approximately $818M. Point was owned by Nordic Capital Fund V. Point was based in Stockholm, and had been acquired by Nordic Capital in 2004. VeriFone said it expects the acquisition will add $260M in sales to the firm in the first 12 months.