Verifone News
5 articles
growth-positive
VeriFone Israel Acquires Software Startup Action Item for $4 Million
VeriFone Systems Inc. has acquired Tel Aviv-based software startup Action Item Software Ltd. for $4 million. The acquisition is part of VeriFone Israels plan to expand its research and development center in Tel Aviv. Action Item Softwares 10-person team will be integrated into VeriFone. Action Item Software counts Orange SA, Amdocs Inc., and 888 Holdings PLC among its customers.
PartnersAcquisition
Francisco Partners Completes Acquisition of Verifone
Verifone to Enable Interactive, Omni-Channel Retail Checkout Experiences for Shufersal, the Largest Supermarket Chain in Israel
growth-negative
VeriFone shuts down hardware center
VeriFone is shutting down its hardware development center in Israel and laying off 20 employees as part of the reorganization following its acquisition of Point and Global Bay for $1.6 billion. The company plans to boost its software development center, which currently has 100 employees. The layoffs will begin in February and continue until October. VeriFone intends to offer the dismissed employees good terms and support them throughout the process. The move is aimed at streamlining the research and development center and ensuring each department has the necessary expertise. VeriFone Israel currently has 400 employees.
Layoffs
growth-positive
Verifone in talks to acquire Lipman at $800-900m value
US-based Verifone is in talks to acquire Lipman Electronics Engineering, an Israeli rival, at a premium of 20-30% over Lipmans current share price. The acquisition would merge Lipmans business with Verifones. Lipman had a tough year in 2005 but expects revenue growth in 2006. The companys major shareholders, First Israel Mezzanine Investors Fund and Mivtach Shamir, are likely to make tens of millions of dollars from the sale. Lipmans other shareholders include foreign investment funds and its founders. The acquisition is valued at $800-900 million.
Acquisition
