Hypercom report strong Q3 results, up 23.7% over the same quarter in 2009. During the call, Hypercom leadership assiduously avoided mention of VeriFone’s unsolicited bid for the company. Now that VeriFone has purchase Gemalto’s European POS business, VeriFone’s president Doug Bergeron claims to be less interested in a Hypercom acquisition. With its decent results, built mainly on Asian and European operations, any acquisition is now more expensive as well. With HCOM trading at $6.68 today, that’s well above VeriFone’s unsolicited offer of $5.25 a share.
There’s plenty of M&A jockeying amongst these three largest remaining POS vendors out of the dozen or more that existed a decade ago. To avoid acquisition themselves, VeriFone and Hypercom alike have acquired other companies to fill in product line weak spots and complicate au unwelcome suitor’s valuation. The Gemalto POS acquisition by VeriFone is just one example.
Read full article: http://www.americanbanker.com/issues/175_212/hypercom-3q-results-1028190-1.html?CMP=OTC-RSS
Read Hypercom’s 3rd Quarter 2010 results: http://www.americanbanker.com/issues/175_212/hypercom-3q-results-1028190-1.html?CMP=OTC-RSS
