Hypercom Corp. said it has bought the payment security business of ICL Financial Terminals in Sweden.

Hypercom, a major producer of point-of-sale payment terminals, did not disclose the price of the cash transaction. For the takeover it established a subsidiary, Hypercom Financial Terminals.

ICL sells payment terminals and pads for personal identification numbers. It is a major supplier to Cash, the Swedish electronic purse program based on Proton smart card technology.

"This acquisition strengthens our expertise in smart cards and security," said Hypercom International president Jairo E. Gonzalez. It also "provides us with an in-region development and service partner, a strong entry into the Nordic region, and access to products for those markets that require very highly secure products."

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