Hypercom Acquired By Verifone

Phoenix-based Hypercom, a provider of electronic payment services, has been acquired by VeriFone Systems in a deal worth approximately $485M in stock. According to San Jose-based VeriFone Systems, which also provides secure electronic payment products, Hypercom shareholders will receive a fixed ratio of 0.23 shares of its common stock for each Hypercom share. The deal is worth approximately $7.32 per share. The firm said the combination would "create new growth opportunities" for the companies.