Ingenico May Purchase Majority of IVI Checkmate

The Board of Directors of IVI Checkmate Corp. is currently in discussions with Ingenico S.A., of Paris, France, that could result in the purchase of a majority of IVI Checkmate common stock by Ingenico.

IVI Checkmate usually brings images of checkreaders to mind. However, IVI Checkmate has a wide and diverse product mix and has emerged as a leader in debit solutions, signature capture and touch screen technology. The Company’s eN-Check 3000 is the only stand-alone dial check reader on the market for verification, guarantee and conversion. Their “plug and play” thermal printers cost less to operate than an impact printer, and can help a merchant operate within the law (see cover story).

The company markets directly to the ISO channel with a focused sales group, incentive programs and turnkey check programs. Caroline Marino, director of ISO sales for IVI Checkmate states, “We offer solutions and service that help the ISO realize revenue and added profitability. If the sale is completed, those core philosophies will not change.”

Ingenico is the third largest provider of payment terminals worldwide, the largest in Europe, and is the world’s largest provider of smart card terminals. The combined companies would make them the largest provider of terminals in the world. Ingenico currently owns approximately 9% of the outstanding shares of IVI Checkmate capital stock, and the proposed stock offer would be for the purchase of newly issued common shares from the Company, and not a purchase from the market.

Ingenico’s proposed purchase of stock would be subject to several contingencies, including:

• approval from IVI Checkmate’s Board of Directors,

• IVI Checkmate’s analysis and agreement that the purchase price is fair,

• fairness opinion from respective investment banking firms,

• execution of a governance agreement of Ingenico’s stock ownership, and

• the continual listing of IVI Checkmate’s stock on the Nasdaq market.

IVI Checkmate is a major electronic transaction solutions provider in North America. The company designs, develops, and markets payment and value-added solutions that optimize transaction management at the point of service in the retail, financial, travel & entertainment, healthcare, and transportation industries. For more information visit www.ivicheckmate.com.

Back | Next | Index

^© Copyright 2001 · The Green Sheet, Inc.