Global | Change

Verifone Acquires Remaining Minority Interest in Verifone Transportation Systems

Verifone Holdings, Inc. (NYSE: PAY), today announced it has acquired the remaining minority interest in Verifone Transportation Systems and aligned all VTS operations within Verifone’s Integrated Systems organization. Financial terms were not disclosed. April 02, 2010 San Jose, CA

Verifone Holdings, Inc. (NYSE: PAY), today announced it has acquired the remaining minority interest in Verifone Transportation Systems and aligned all VTS operations within Verifone’s Integrated Systems organization. Financial terms were not disclosed.

VTS was formed as a joint venture with TaxiTronic, Inc., in 2005, for the purpose of equipping taxis with integrated fleet management and customer payment systems. Acquiring the remaining minority interest in VTS allows Verifone to further drive the rapid adoption of the payment systems within the transportation segment, particularly in international markets.

The Integrated Solutions organization will advance Verifone’s development and implementation of integrated solutions for transportation and a strategy of driving payment solutions and transactions as well as advertising sales by the recently formed Verifone Media Solutions group.

Amos Tamam, the former CEO of VTS, has been named senior vice president, Taxi Systems, with responsibility for expanding taxi solutions sales throughout the U.S. and internationally in key markets including London, South Africa and Bermuda.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for Verifone Holdings, Inc.
This press release includes certain forward-looking statements related to Verifone Holdings, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on Verifone management's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of Verifone Holdings, Inc. These risks and uncertainties include: the successful rollout of Verifone’s PAYware Mobile payment solution, customers’ acceptance and adoption of the PAYware Mobile solution and other new product and service offerings, our ability to protect against fraud, the status of our relationship with and condition of third parties upon whom we rely in the conduct of our business, our dependence on a limited number of customers, uncertainties related to the conduct of our business internationally, our dependence on a limited number of key employees, short product cycles, rapidly changing technologies and maintaining competitive leadership position with respect to our payment solution offerings. For a further list and description of such risks and uncertainties, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. Verifone is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

About Verifone Holdings, Inc. (www.verifone.com)
Verifone Holdings, 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.