Hypercom Corp., which is being sold to VeriFone Systems Inc., said in a regulatory filing Monday that the combined companies should generate nearly $2 billion in revenue next year.
Hypercom projected 2010 revenue of $459.5 million. It said it and VeriFone collectively would have revenue of $1.3 billion in the second half of this year, when the deal is expected to close. VeriFone confirmed in January that it planned to spin off Hypercom's U.S. business.
The move is the first cog in a wider plan to make tokenized deposits more interoperable across borders, and eventually, among the bank's clients.
Earnings per share and net income for the New York megabank both surpassed analysts' estimates in the first quarter, despite the ongoing war in the Middle East and rising inflation.
Bills in Congress, capital rules, GSE reform and credit modernization hold a mix of benefits and risks for Independent Community Banker of America members, Senior Vice President Ron Haynie says.
Former Federal Reserve Vice Chair for Supervision Randal Quarles, who served during President Trump's first term, said members of the Fed board should be removable by the president, but that the decentralized structure of the Fed will ensure that monetary policy decisions remain sound.
The tokenization platform provider, which has a nonbinding agreement with NYSE and is aiming for a public debut, promoted former SEC Trading and Markets Director Brett Redfearn to the role.
Deutsche Bank is raising the base pay of Supervisory Board Chairman Alexander Wynaendts by 21%, Wells Fargo has hired Neil Ghosh as head of chemicals investment banking, Bank of America's Alexandre Bettamio is being considered for chief executive officer of Brazilian stock and derivatives exchange B3 SA, and more in this week's banking news roundup.
