Accelerates Transformation to Managed Services Revenue Model
SAN JOSE – November 14, 2011 – VeriFone Systems, Inc. (NYSE: PAY), today announced it has signed a definitive agreement with Nordic Capital Fund V ("Nordic Capital") to acquire Point, Northern Europe's largest provider of payment and gateway services and solutions for retailers. VeriFone intends to extend the Point platform throughout the region and beyond, with the aim of creating the world's largest infrastructure for rapid deployment of alternative payments.

VeriFone will pay approximately €600 million to acquire all of the equity of Point and will also retire at closing existing Point debt of approximately €170 million. The acquisition is expected to close by the end of 2011, and is subject to customary closing conditions. The transaction is expected to be accretive to non-GAAP earnings by $0.08 to $0.10 per fully diluted share in fiscal 2012 and $0.30 to $0.35 in fiscal 2013.

Point, based in Stockholm, has...