Hypercom Announces Plans to Acquire e-Transactions Business Line of Thales
Obtains Financing Commitment from Francisco Partners
Names Philippe Tartavull Chief Executive Officer and a Director
Elects Norman Stout Chairman
Appoints Johann Dreyer and Expects to Appoint Keith Geeslin and Jack McDonnell, Jr. to the Board
PHOENIX--(www.AllPayNews.com)--Hypercom Corporation (NYSE: HYC), the high security electronic transaction solution provider, announced today that:
It has entered into exclusive negotiations with Thales SA, a leading international electronics and systems group serving defense, aerospace and security markets worldwide, to acquire the e-Transactions business line of Thales.
It has obtained a $60 million financing commitment from Francisco Partners.
Philippe Tartavull has been promoted to Chief Executive Officer and President of Hypercom Corporation, effective immediately, and has been appointed to the Board of Directors. He was previously President and Chief Operating Officer of the Company.
Norman Stout has been elected Chairman of the Board, replacing Daniel D. Diethelm who will remain as a member of the Board.
Johann Dreyer, Chief Executive Officer and Director of S1 Corporation, has been appointed to the Hypercom Board of Directors, bringing the total number of directors to six. Upon the closing of the intended acquisition of the e-Transactions business line of Thales, Keith Geeslin, Partner of Francisco Partners, and Jack McDonnell, Jr., retired Chairman, Chief Executive Officer and founder of TNS, are expected to be appointed to the Hypercom Board of Directors.
Acquisition of e-Transaction Business Line of Thales
Hypercom today announced that it has entered into exclusive negotiations with Thales SA to acquire the e-Transactions business line of Thales. The e-Transactions business line of Thales is a leading provider of secure card payment solutions in France, Germany, the United Kingdom, Spain, Belgium and Sweden, and currently is a profitable business line of Thales Group