VeriFone Systems Inc. said Monday that it has completed its acquisition of Gemalto NV's point of sale terminal business.
The deal, originally announced Oct. 21, closed on Dec. 31.
VeriFone, a terminal maker based in San Jose, Calif., did not disclose the purchase price.
Gemalto, of Amsterdam, shipped 470,000 terminals in 2009, mostly to Africa, the Middle East and France, and it generated approximately $80 million in terminal revenue, according to estimates by George Sutton, an analyst at Craig-Hallum Capital Group LLC of Minneapolis.
Sutton said VeriFone shipped approximately 3.1 million units in 2009.
The VeriFone brand will replace the Gemalto brand on payment terminals and in marketing materials, a spokesman for the California company said.
The companies continue to discuss ways they might work together on payment products adhering to the EMV Integrated Circuit Card Specifications for the U.S. market, but VeriFone would not provide more specific information.
Additionally, Gemalto is supplying VeriFone with machine-to-machine wireless communication technology. VeriFone said it may use the technology to remotely monitor and deliver commands to devices, such as software updates.
