Hypercom
{{Short description|Former software company}}
{{Use dmy dates|date=July 2019}}
{{Infobox company
| name = Hypercom Corporation
| logo = File:Hypercom_logo.png
| type = Public
| traded_as = {{NYSE was|HYC}}
| fate = Acquired by Verifone
| foundation = Australia, ({{start date |1978}})
| defunct = 2011
| founder = George Wallner
| key_people = Norman Stout, Chairman; Philippe Tartavull, CEO & President
| location_city = Scottsdale, Arizona
| location_country = United States
| products = Payment terminals
| homepage = {{url |http://www.hypercom.com}}
}}
Hypercom Corporation was an Australian company which was a pioneer of electronic payment processing hardware and software. It was acquired by rival VeriFone in 2011.
History
Hypercom was founded by Hungarian born George Wallner, David Saul, Brian Pascoe, and Leslie Fritz in Sydney Australia in 1978. It went on to dominate the South Pacific region in terms of payment terminals. In 1988 the company signed a deal with American Express to provide its terminals to them in the US. To consolidate the deal, Hypercom moved its head office from Australia to Arizona in the US. It then faced head-to-head competition with VeriFone on its home market.{{cite web |url=http://www.fundinguniverse.com/company-histories/hypercom-corporation-history/ |title=Hypercom Corporation History |publisher=Funding Universe |accessdate=December 8, 2015 |archive-date=30 July 2015 |archive-url=https://web.archive.org/web/20150730021259/http://www.fundinguniverse.com/company-histories/hypercom-corporation-history/ |url-status=live }}
On April 4, 2011, Ingenico announced its agreement to acquire Hypercom's U.S. Payment Systems Business prior to the close of the VeriFone acquisition {{cite press release|url=https://www.reuters.com/article/2011/04/04/idUS34992+04-Apr-2011+HUG20110404 |archive-url=https://web.archive.org/web/20150924152213/http://www.reuters.com/article/2011/04/04/idUS34992+04-Apr-2011+HUG20110404 |url-status=dead |archive-date=September 24, 2015 |publisher=Reuters |date=April 4, 2014 |title=Ingenico Agrees to acquire Hypercom's U.S. Payment Systems Business}} On the same day it announced that its UK and Spanish operations would be sold separately to a private investment company and this business was renamed as Spire Payments.{{cite press release |url=https://www.reuters.com/article/idUS20227+05-Aug-2011+BW20110805#0B6XPIvdYqtviXfO.97 |archive-url=https://web.archive.org/web/20151208082901/http://www.reuters.com/article/idUS20227+05-Aug-2011+BW20110805#0B6XPIvdYqtviXfO.97 |url-status=dead |archive-date=December 8, 2015 |title=Hypercom UK and Spain Acquired by Spire Payments |date=August 4, 2011 |publisher=Reuters}}
On May 12, 2011, The Department of Justice filed a civil antitrust lawsuit to block the proposed acquisition of Hypercom by VeriFone saying the planned sale of Hypercom's U.S. POS terminal business to Ingenico does not resolve the antitrust concerns {{cite press release |url=https://www.justice.gov/opa/pr/justice-department-files-antitrust-lawsuit-stop-verifone-buying-hypercom-and-entering |publisher=Department of Justice |date=May 12, 2011 |title=Justice Department Files Antitrust Lawsuit to Stop VeriFone from Buying Hypercom and Entering into Anticompetitive Divestiture Agreement with Ingenico |access-date=14 January 2023 |archive-date=18 October 2022 |archive-url=https://web.archive.org/web/20221018121406/http://www.justice.gov/opa/pr/justice-department-files-antitrust-lawsuit-stop-verifone-buying-hypercom-and-entering |url-status=live }}
On August 4, 2011, VeriFone announced its completion of the acquisition of Hypercom U.S. business after reaching a settlement with antitrust regulators to sell Hypercom's U.S. payment systems business to an entity sponsored by investment firm Gores Group LLC {{cite press release |url=https://finance.yahoo.com/news/VeriFone-Hypercom-complete-apf-3121937882.html |publisher=Yahoo Finance |date=August 4, 2011 |title=VeriFone, Hypercom complete merger after reaching agreement with Justice Department |access-date=14 January 2023 |archive-date=28 May 2016 |archive-url=https://web.archive.org/web/20160528194318/http://finance.yahoo.com/news/VeriFone-Hypercom-complete-apf-3121937882.html |url-status=live }} Simultaneously, KleinPartners Capital announced the acquisition of Hypercom Spain S.A. and Hypercom UK, with Kazem Aminaee, the former President of Hypercom Europe, Middle East, and Africa, forming Spire Payments {{cite press release|url=https://www.reuters.com/article/2011/08/05/idUS20227+05-Aug-2011+BW20110805 |archive-url=https://web.archive.org/web/20150924154524/http://www.reuters.com/article/2011/08/05/idUS20227+05-Aug-2011+BW20110805 |url-status=dead |archive-date=September 24, 2015 |publisher=Reuters |date=August 4, 2011 |title=Hypercom UK and Spain Acquired by Spire Payments}}{{cite web |url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=47164435 |title=Company Overview of Spire Payments Ltd. |publisher=Bloomberg Business |accessdate=December 8, 2015 |archive-date=10 March 2018 |archive-url=https://web.archive.org/web/20180310135741/https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=47164435 |url-status=live }}
On September 30, 2011, Hypercom US announced it formally changed its corporate name to Equinox Payments, LLC.{{cite press release|url=https://www.reuters.com/article/2011/09/30/idUS163499+30-Sep-2011+BW20110930 |archive-url=https://web.archive.org/web/20150924155613/http://www.reuters.com/article/2011/09/30/idUS163499+30-Sep-2011+BW20110930 |url-status=dead |archive-date=September 24, 2015 |publisher=Reuters |date=September 30, 2011 |title=Payment Industry Leader Hypercom USA Changes Name to Equinox Payments, LLC}}
References
{{reflist}}
External links
- [http://equinoxpayments.com Official Equinox Payments website (formerly Hypercom)]
- [http://www.fundinguniverse.com/company-histories/hypercom-corporation-history/ Funding Universe.com: "A history of Hypercom through 1998"]
Category:1978 establishments in Australia
Category:2011 disestablishments in Arizona
Category:Companies formerly listed on the New York Stock Exchange
Category:Defunct software companies of the United States
Category:Point of sale companies
Category:Financial services companies established in 1978
Category:Financial services companies disestablished in 2011
Category:Manufacturing companies established in 1978
Category:Manufacturing companies disestablished in 2011