Deals
Francisco Partners to Take VeriFone Private for $3.4 Billion
- Francisco to pay 54% premium, shares surge in late trading
- Verifone struggled after U.S. move to chip cards delayed sales
A Verifone Systems Inc. credit card payment device at a restaurant in London, U.K.
Photographer: Simon Dawson/Bloomberg
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An investor group led by tech-focused private equity firm Francisco Partners agreed to acquire payments technology company VeriFone Systems Inc. for about $3.4 billion including debt.
Francisco Partners will pay $23.04 in cash per VeriFone share, a premium of about 54 percent over the company’s closing share price Monday, according to a statement. The investor group also includes British Columbia Investment Management Corp.