Verifone reaches acquisition agreement with Francisco Partners

Payments technology company Verifone is to be acquired by an investor group led by Francisco Partners and including British Columbia Investment Management Corporation, in a deal valued at approximately $3.4 billion.

Paul Galant, CEO at Verifone, says: “This transaction delivers significant cash value to our stockholders and provides compelling benefits for our clients. We believe this transaction reflects the progress we have made executing our transformation from a terminal sales company to a payments and commerce solutions provider. With Francisco Partners’ resources, expertise and track-record growing global technology businesses, we are confident that we will be better positioned to serve the needs of our clients around the globe.”

“Verifone’s transformation from a hardware provider to a best-in-class payments and commerce solutions provider is just beginning,” adds Jason Brein, Partner at Francisco Partners. “We look forward to supporting the company as it continues its evolution.”