Hypercom Stockholders Approve Merger with VeriFone
Hypercom Corporation stockholders have approved the merger agreement providing for the acquisition of the company by VeriFone Systems, Inc. The results were announced yesterday by Norman Stout, chairman of the board, during a special meeting of stockholders. The merger agreement and merger were approved by more than 99% of the shares voted, which constituted approximately 80% of the total number of shares outstanding as of the record date for the special meeting.
The proposed merger was announced on November 17, 2010, and is expected to close in the second half of 2011, pending the satisfaction of applicable regulatory approvals and other customary closing conditions.
Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products, software solutions and services. The company's solutions address the high security electronic transaction needs of banks and other financial institutions, processors, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, petroleum, healthcare, prepaid, self-service and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits. Hypercom is a founding member of the Secure POS Vendor Alliance (SPVA) and is the second largest provider of electronic payment solutions and services in Western Europe and third largest provider globally.