Ingenico Acquires Hypercom's US Payment Systems Business
Payment solutions provider Ingenico has agreed to acquire the US payment systems business of Hypercom for US$54m in cash. This transaction is a step in Ingenico’s plan to enhance its activities in the US payment solutions market. Specifically, it will significantly increase the company’s presence in the banking channel, particularly through the independent sales organisations (ISO) community.
In the US, Hypercom has built a customer base across different channels including Bankcard, multi-lane retail and value-added services. Following the completion of the transaction, these customers will benefit from Ingenico’s Telium range of products including contactless solutions.
“The acquisition of Hypercom’s US business is a major step in our strategic development notably aimed at accelerating the adoption of contactless NFC technology,” said Philippe Lazare, chief executive officer (CEO) of Ingenico. “This will enable us to accelerate our presence in the US through a promising combination of innovative product offers, expertise and extensive customer base.”