Hypercom
 |
|
| Public | |
| Traded as | |
| Fate | Acquired by Verifone |
| Founded | Australia, (1978) |
| Founder | George Wallner |
| Defunct | 2011 |
| Headquarters | Scottsdale, Arizona, United States |
|
Key people
|
Norman Stout, Chairman; Philippe Tartavull, CEO & President |
| Products | Payment terminals |
| Website | www |
Hypercom was an American company that produces electronic payment processing hardware and software and was acquired by rival VeriFone in 2011.
History
Hypercom was founded by Hungarian born George Wallner in Sydney Australia in 1978. It went on to dominate the south pacific region in terms of payment terminals. In 1988 the company signed a deal with American Express to provide its terminals to them in the US. To consolidate the deal, Hypercom moved its head office from Australia to Arizona in the US. It then faced head to head competition with VeriFone on it's home market.[1]
On April 4, 2011, Ingenico announced its agreement to acquire Hypercom's U.S. Payment Systems Business prior to the close of the VeriFone acquisition [2] On the same day it announced that its UK and Spanish operations would be sold separately to a private investment company and this business was renamed as Spire Payments.[3]
On May 12, 2011, The Department of Justice filed a civil antitrust lawsuit to block the proposed acquisition of Hypercom by VeriFone saying the planned sale of Hypercom’s U.S. POS terminal business to Ingenico does not resolve the antitrust concerns [4]
On August 4, 2011
- VeriFone announced its completion of the acquisition of Hypercom U.S. business after reaching a settlement with antitrust regulators to sell Hypercom's U.S. payment systems business to an entity sponsored by investment firm Gores Group LLC [5]
- KleinPartners Capital announced the acquisition of Hypercom Spain S.A. and Hypercom UK, with Kazem Aminaee, the former President of Hypercom Europe, Middle East, and Africa, forming Spire Payments [6][7]
On September 30, 2011 Hypercom US announced it formally changed its corporate name to Equinox Payments, LLC. [8]
References
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External links
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