VeriFone Systems, a San Jose, Calif.-based developer of electronic payment technology, said on Tuesday it has completed its $817 million acquisition of Point, a Swedish provider of payment and gateway technology to retailers, from owner Nordic Capital.
The deal was first announced in November. Point operates in 11 Northern European countries, serving a network encompassing almost 475,000 merchant contracts.
The company offers point-of-sale technology, gateway services, card encryption services and multi-channel e-commerce processing.
“This acquisition supports our vision of offering retailers everywhere a managed service to easily accept all existing payment types, including the evolving alternative and mobile payment methods being offered by traditional card brands and new entrants such as Google, PayPal, Groupon and Isis,” said VeriFone chief executive officer Douglas Bergeron.
This article was also published in Bay Area Tech Wire.
Press release – http://tinyurl.com/6r6bcn3