As part of the agreement, VeriFone plans to extend the Point platform within the region and develop an infrastructure for alternative payments deployment.
In order to buy Point, VeriFone will have to pay almost EUR 600 million and will also retire at closing the existing Point debt of approximately EUR 170 million. The acquisition is set to be completed by the end of 2011.
VeriFone predicts the recent acquisition of Point will add approximately USD 260 million in sales. The company’s total services revenue is expected to exceed 30 percent of sales in fiscal year 2012, and 50 percent of revenue by fiscal year 2015
Point offers retailers a range of services, including point-of-sale technology and support, gateway services, card encryption services and multi-channel e-commerce processing. The company provides services for all types of businesses including small shops to multinational retail chains, which require multi-channel payment capabilities, as well as hotels, restaurants and B2B customers. Point has offices in Denmark, Estonia, Finland, France, Iceland, Ireland, Latvia, Lithuania, Norway, Sweden and the UK.
Point has been acquired by Nordic Capital in 2004.
In recent news , VeriFone has acquired Global Bay Mobile Technologies, a UK-based provider of mobile retail software.
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