NEW YORK - American Banknote Corp. has acquired 5.5% of the shares of International Verifact Inc.

"We think International Verifact is in a strategic and fast-growing business," said Morris Weissman, chairman and chief executive officer of American Banknote. "With the dynamics occurring in the electronic funds transfer industry, Verifact is well positioned to take advantage of its reputation and experience in point of sale hardware and systems integration.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.