Hypercom Corp. said it reached an "agreement of understanding" to acquire the Australian operations of its distributor, Advantage Group Ltd.

When the $1.5 million purchase is completed, Hypercom would take over distribution and support of its electronic payment products in Australia. Advantage Group, which had that country's exclusive distribution rights since 1988, will retain them for New Zealand, its home country.

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.