Thursday, February 24, 2011

Hypercom Stockholders Approve VeriFone Merger

Scottsdale-based Hypercom Corporation, a provider of electronic payment products and services, said this morning that its stockholders have approved the firm's acquisition by VeriFone Systems. The two firms had announced the acquisition in November. Hypercom said that more than 99 percent of the shares voted approved of the agreement, equal to approximately 80 percent of the firm's shares outstanding. The company said it expects the merger to close in the second half of the year. The deal is worth approximately $485M in stock.