Within the United States, Ingenico S.A. already may be benefiting from the proposed merger between VeriFone Systems Inc. and Hypercom Corp., rival point-of-sale terminal makers.
San Jose, Calif.-based VeriFone expects to spin off Scottsdale, Ariz.-based Hypercom’s U.S. business once it proposed acquisition is approved and finalized (
POS terminal buyers are reacting to this deal, says Gil B. Luria, an analyst at Los Angeles-based Wedbush Securities. “Our U.S. channel checks indicate that Hypercom is already losing channel partners to both VeriFone and Ingenico as clients anticipate a world post a Hypercom acquisition by VeriFone,” Luria wrote in a Jan. 18 research note.
VeriFone announced the Hypercom deal in November (
Meanwhile, Ingenico expects it fourth-quarter revenue to be approximately 14% larger than during the same period in 2009, the France-based terminal maker announced Jan. 18 in previewing its anticipated results, which it will release at the end of February.
Ingenico says its 2010 revenue should top 900 million euros ($1.21 billion) and exceed its Oct. 27 revenue target of 865 million euros. The company attributes the performance to improving sales and a better profit margin, which it is expects to be 13.5%. Its previously expected profit margin was 12.7%.
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