VeriFone Holdings Inc. has become the lead investor in Semtek Innovative Solutions Corp. and is likely to eventually acquire the remaining company shares, according to the San Jose point of sale terminal maker.

Semtek is the developer of encryption technology that VeriFone uses in its VeriShield Protect product that encrypts sensitive cardholder data during a transaction.

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.