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Phoenix-based Hypercom Corp., a developer of secure electronic payment software, reported Thursday that it has agreed to purchase the e-Transactions business unit of Thales SA, a European publisher of secure card payment applications. Hypercom said the total share purchase price computes to some $120 million in cash, with an additional $30 million contingent upon the combined companies’ 2008 performance. Hypercom said it will finance the transaction with $60 million of on-hand cash and with a $60 million senior credit facility it obtained from Francisco Partners. The venture capital firm, Hypercom noted, will be granted a warrant to purchase some 10.544 million shares of Hypercom common stock at $5 per share. Hypercom also revealed that Philippe Tartavull, previously the company's president and chief operating officer, has been promoted to chief executive officer and president, effective immediately.
posted on Thursday, December 20, 2007

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