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VeriFone to Acquire Northern European Payment System Provider
Monday, November 14, 12:24 PM ET

Payment processing solutions provider VeriFone (NYSE:PAY) said today it has agreed to acquire Point, Northern Europe's largest provider of payment and gateway services and solutions, for 600 million euros plus the retirement of 170 million euros in debt.

VeriFone said it intends to extend Point's platform throughout the region and beyond, with the ultimate goal of creating the world's largest infrastructure for rapid deployment of alternative payments.

VeriFone said the acquisition is expected to be accretive to non-GAAP earnings by $0.08 to $0.10 per share in fiscal 2012, and by $0.30 to $0.35 per share in fiscal 2013.

The transaction is expected to close by the end of the year.

For MarketNewsVideo.com, I'm Kristin Bianco.

VeriFone to Acquire Northern European Payment System Provider picture
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