This article was revised after Vivotech distributed a follow-up press release containing various "corrections."
Vivotech, a Near Field Communication software and systems company, announced March 31 it has approached VeriFone Systems Inc. about acquiring the U.S. assets of Hypercom Corp.
The point-of-sale terminal maker announced in November it would divest Hypercom’s U.S. assets following its acquisition of the electronic payments company, which is expected to close in the second half of this year (
“NFC mobile commerce is on the cusp of becoming reality,” Mick Mullagh, CEO of Santa Clara, Calif.-based Vivotech, said in a news release. “Vivotech’s acquisition of the Hypercom U.S. assets would allow us to accelerate the adoption of this revolutionary new technology and ensure that a vigorous and competitive market emerges to drive innovation and choice.”
Vivotech provides the building blocks of the NFC ecosystem: smart applications, wallet and provisioning software and point of sale systems. The company has shipped more than 800,000 contactless NFC readers. Through its direct and reseller channels, Vivotech has an 80% share of U.S. deployments, including nearly 100% of VeriFone’s U.S. contactless NFC readers.
