Hypercom Corporation , a global provider of end-to-end electronic and e-commerce payment solutions, announced that it has completed its previously announced acquisition of substantially all of the assets of Golden Eagle LLC and Golden Leasing, a micro-ticket leasing organization for point-of-sale terminals.
As previously announced, terms of the acquisition include an initial payment of $18.5 million in cash and $4 million in stock, with additional earn out payments over a three-year period if certain objectives are met. Golden will continue to operate from its current location in Ridgefield, CT as a standalone business unit.
“We welcome Golden Leasing employees and management to the Company,” said George Wallner, president and CEO of Hypercom. “Golden provides a key capability to the independent sales organization/bank processor market with their POS leasing expertise as we continue to roll out ePic, our web-enabled countertop electronic payment commerce and information platform. Golden’s equipment acquisition and deployment program, which includes purchase, rental or lease options, will allow us to more fully leverage the implementation of ePic, as traditional card payment terminals are replaced with our Internet-enabled, touch-screen ICE terminals. In addition, Hypercom gains access to Golden’s rapidly growing merchant base for cross-selling opportunities and access to hundreds of ISOs with whom Golden currently transacts business.”
ABOUT HYPERCOM CORPORATION
Hypercom Corporation (NYSE:HYC) is a global provider of end-to-end electronic payment solutions, including card payment systems, peripherals, network products, software and e-commerce payment solutions that add value at the point-of-sale for consumers, merchants and acquirers.
Headquartered in Phoenix, Arizona, Hypercom(R) markets its products in more than 70 countries through a global network of affiliates and offices in Argentina, Australia, Brazil, Chile, China, Germany, Hong Kong, Hungary, Japan, Mexico, Russia, Singapore, Sweden, the United Kingdom and Venezuela. Hypercom’s Internet address is [www.hypercom.com].