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Speaking of Acquisitions...
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As long as
we’re reporting acquisitions, here’s another. Hypercom has signed a
definitive agreement to acquire the assets of Golden Eagle/Golden Leasing.
As many of our readers know, Golden is a micro-ticket leasing organization
for POS terminals.
Golden will be acquired for an initial payment of $18.5 million in cash
and $4 million in stock. The deal is expected to close in early January
2000.
The acquisition is important to Hypercom since it will add a leasing
component to their new ePic (ePOS-infocommerce) strategy (see article,
page 23). Golden will operate as a stand-alone business unit under the
name of Golden Leasing but will enable Hypercom to offer comprehensive
equipment acquisition and deployment programming, including purchase,
rental, or lease options.
“Golden is a leader in its industry,” said George Wallner, president
and CEO of Hypercom. “They will provide Hypercom with the POS equipment
leasing infrastructure to deliver and manage our end-to-end solution in
the leasing transaction marketplace. We expect that it will create
significant recurring revenue opportunities—for merchants, for
processors, for acquirers, and for Hypercom.”
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