Add-on Acquisition • Technology Hardware

VeriFone Acquires Point International AS

On April 1, 2003, VeriFone acquired technology hardware company Point International AS from Norvestor Equity

Acquisition Context
  • This is VeriFone’s 1st transaction in the Technology Hardware sector.
  • This is VeriFone’s 1st transaction in Norway.

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M&A Deal Summary

Date April 1, 2003
Target Point International AS
Sector Technology Hardware
Buyer(s) VeriFone
Sellers(s) Norvestor Equity
Deal Type Add-on Acquisition

Target Company

Point International AS

Oslo, Norway
Point International AS is a supplier of tools for efficient and secure electronic transaction handling. Besides fast and secure hardware solutions Point deliver services such as software development, helpdesk, maintenance and program- and parameter downloading.
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Buyer Overview 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 Context for Buyer #
Overall 1 of 11
Sector: Technology Hardware 1 of 3
Type: Add-on Acquisition 1 of 9
Country: Norway 1 of 1
Year: 2003 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-06 Go Software

Savannah, Georgia, United States

GO Software is a provider of point-of-sale (POS) payment processing software. More than 150,000 businesses use GO Software’s solutions to process payments at high speed, expand tender types, and lower credit card costs. GO Software provides payment processing solutions to meet the needs of any merchant, regardless of transaction volume, platform or sales environment. GO Software provides the payment engine behind thousands of retail store systems running integrated point-of-sale solutions.

Buy $15M

Seller Profile 1

SELLER

Norvestor Equity

Oslo, Norway

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 8.3B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Norvestor Equity is an independent private equity group focused on opportunities throughout Norway and the nearby Nordic region. Norvestor generally looks to acquire control positions in businesses with strong market positions, clear potential for sales and earnings growth, and motivated management. Sectors of interest include engineering/technology, food/beverage, IT, telecommunications, maritime equipment, oil services, power/energy, retail, and services/outsourcing. The Firm's investment size is €10 to €45 million in companies with enterprise values of €20 to €125 million. Norvestor Equity was founded in 1989 and is based in Oslo, Norway.


Deal Context for Seller #
Overall 13 of 53
Sector: Technology Hardware 1 of 1
Type: Add-on Acquisition 2 of 19
Country: Norway 11 of 35
Year: 2003 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-12-02 Odim AS

Hareid, Norway

Odim AS is a developer and seller of automated handling solutions for offshore and naval markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-09-01 Voice AS

Oslo, Norway

Voice AS operates as a apparel retail stores.

Sell -