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VeriFone Acquires Two Major Players In New Zealand Payments Industry

Stocks in this article: PAY

VeriFone Systems, Inc. (NYSE: PAY) today announced an agreement with ANZ Bank New Zealand Limited (ANZ NZ) to acquire EFTPOS New Zealand Limited (ENZ). Additionally, VeriFone announced an agreement with the Sektor Group of New Zealand to acquire its Sektor Payments operation.

The acquisitions provide VeriFone with comprehensive software, services and distribution resources to serve New Zealand with payment solutions and managed services, leveraging its Point payments-as-a-service platform.

ENZ will continue to operate under its current branding, EFTPOS New Zealand, as a VeriFone company. It is the largest EFTPOS solutions and payments provider in New Zealand, directly serving more than 40,000 merchant customers and offering customers an end-to-end payment solution, including card acceptance devices, software, services and processing.

Sektor Payments, which will operate as VeriFone New Zealand, is the exclusive VeriFone distributor in New Zealand with the largest reseller network that provides VeriFone payment solutions to merchants.

“These acquisitions reflect VeriFone's commitment to the New Zealand market,” said Anthony Chalhoub, general manager, Australia and New Zealand, for VeriFone. “VeriFone’s presence in the country will allow our customers and distribution partners to benefit from greater access to VeriFone’s expertise, advanced solutions and services that add value to both merchants and consumers.”

Both organizations will directly leverage VeriFone’s global resources and extensive portfolio of payment products and services. As a global supplier of payment solutions, VeriFone operates in more than 110 countries with a worldwide workforce of more than 5,000 employees. VeriFone payment solutions are designed to meet the needs of merchants, processors, banks and acquirers in both developed and emerging economies worldwide.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc.

This press release includes certain forward-looking statements related to VeriFone Systems, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on VeriFone management's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of VeriFone Systems, Inc. These risks and uncertainties include: our successful integration of the acquired businesses, customer acceptance and adoption of our new solution offerings for the Australia and New Zealand region, our ability to protect against fraud, the status of our relationship with and condition of third parties upon whom we rely in the conduct of our business, our dependence on a limited number of customers, uncertainties related to the conduct of our business internationally, our dependence on a limited number of key employees, short product cycles, rapidly changing technologies and maintaining competitive leadership position with respect to our payment solution offerings. For a further list and description of such risks and uncertainties, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. VeriFone is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

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