M&A Deal Summary

VeriFone Acquires Destiny Electronic Commerce Pty.

On May 24, 2011, VeriFone acquired financial services company Destiny Electronic Commerce Pty.

Acquisition Highlights
  • This is VeriFone’s 1st transaction in the Financial Services sector.
  • This is VeriFone’s 1st transaction in South Africa.

M&A Deal Summary

Date 2011-05-24
Target Destiny Electronic Commerce Pty.
Sector Financial Services
Buyer(s) VeriFone
Deal Type Add-on Acquisition

Target

Destiny Electronic Commerce Pty.

Johannesburg, South Africa
Destiny Electronic Commerce Pty. Ltd. (dba CSC) is a provider of secure payment technologies, services and solutions at the point of sale for Sub-Saharan Africa and the Indian Ocean Islands.

Search 214,238 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

VeriFone

New York, New York, United States

Category Company
Founded 1981
Sector Information Technology
Employees5,400
Revenue 2.0B USD (2015)
DESCRIPTION
Entrance to VeriFone's corporate headquarters in San Jose, California.
Entrance to VeriFone's corporate headquarters in San Jose, California.

VeriFone is a provider of secure electronic payment technologies. VeriFone provides solutions, services, and expertise that enable electronic payments. The Company's products and services include mobile, countertop and self-service payment devices, software, and web-based gateways. VeriFone was founded in 1981 and is headquartered in New York, New York.


DEAL STATS #
Overall 6 of 11
Sector: Financial Services M&A 1 of 2
Type: Add-on Acquisition M&A Deals 4 of 9
Country: South Africa M&A 1 of 1
Year: 2011 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-27 Hypercom

Scottsdale, Arizona, United States

Hypercom Corp., is a provider of complete electronic payment solutions and value-added services at the point of transaction. Hypercom designs, manufactures and sells a variety of electronic transaction terminals, peripheral devices, transaction networking devices, transaction management systems, application software and information delivery services. Additionally, the Company provides support and related services, which include maintenance, 24/7 management and monitoring of customer networks, on-site technology assessments, network training, and design and implementation. Hypercom’s customers include domestic and international financial institutions, electronic payment processors, retailers, independent sales organizations and distributors.

Buy $485M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-01 Global Bay Mobile Technologies

South Plainfield, New Jersey, United States

Global Bay Mobile Technologies, Inc., is a provider of next-generation mobile retail solutions. Global Bay works with retailers across North America, Europe and Asia to increase sales and improve customer satisfaction with mobile applications that leverage existing POS, e-commerce, and traditional store systems.

Buy -