The civil antitrust lawsuit is based on the Hypercom’s intention to sell its US POS terminal business to Ingenico in a bid to solve the antitrust worries raised by the VeriFone/Hypercom transaction.
On 4 April 2011, Hypercom has unveiled that Ingenico is set to acquire its US payment business for USD 54 million in cash in an effort to solve potential antitrust threats determined by the merger agreement previously closed with VeriFone.
In response to the lawsuit, VeriFone and Hypercom plan to collaborate with the DOJ to better understand its concerns and to take in consideration various options for the planned divestiture of Hypercom’s US business, including the possibility of a divestiture to an alternative buyer.
Both companies aim to complete the merger in H2 2011 provided that the US DOJ will issue a successful resolution.
In November 2010, VeriFone and Hypercom have signed a definitive agreement under which VeriFone acquired Hypercom in an all-stock transaction valued at approximately USD 485 million, including net debt assumed by VeriFone.
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