Global | Change

Verifone Acquires Majority Ownership of Italy’s ABS

Integrator and Software Developer of ABSCard for Payments-Based Managed Services and Vertical Market Solutions October 04, 2010 San Jose, CA

Verifone Systems, Inc. (NYSE: PAY) today announced it has acquired an 80 percent ownership of Italy integrator and software developer All Business Solutions (ABS) from ABS’ founders and from ACI Informatica, which will retain a minority ownership share. Financial terms were not disclosed.

Building on its ABScard gateway and loyalty platform, ABS provides a single integrated technology platform and professional services for transaction-based applications including prepaid, loyalty, fare collection, ticketing, restaurant and others.

“ABS complements Verifone’s payment solutions and represents a profitable managed services model with a high proportion of recurring revenues,” said Imanuel Baharier, General Manager of Verifone Italy. “This acquisition enables Verifone to serve key market segments in Italy with a complete end-to-end solution incorporating acceptance solutions at the point of sale, middleware and back-end software, and hosting services.”

ABScard is a multichannel system capable of processing secure transactions from mobile phones and smart phones, self-service kiosks, web browsers and traditional POS devices. ABS has developed customer solutions in multiple markets, particularly banking, transportation and hospitality.

ACI Informatica is the IT body of ACI (Automobile Club d'Italia) Group. ABS provides the collection management solution for more than 1,500 locations reporting into the national car license system, which ACI Informatica manages.

Additional Resources:
http://www.verifone.it

About Verifone Systems, Inc. (www.verifone.com)
Verifone Systems, Inc. (“Verifone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. Verifone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. Verifone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.