The Phoenix terminal maker Hypercom Corp. said Tuesday that it has purchased Thales SA's e-Transactions business.
Hypercom announced its deal to buy the Paris company's unit for $120 million in cash in December.
The deal helped derail a buyout of Hypercom. In February the French terminal maker Ingenico SA announced an unsolicited bid of $6.25 a share, or a 52% premium over Hypercom's closing stock price the previous trading day. A few days later Ingenico withdrew the offer after saying it wanted only Hypercom, not the Thales unit, and Hypercom affirmed its intention to pursue its deal.
Philippe Tartavull, Hypercom's president and chief executive, said in a press release that the "transformative acquisition" will "strengthen our ability to deliver high-caliber, high-security products."
Hypercom said the purchase makes it the No. 2 payments products and services provider in Western Europe and No. 3 worldwide.
