VeriFone to Acquire Trintech's Payment Systems Business

Verifone on Monday confirmed that it is buying the payment systems business of the Dublin-based Trintech Group for $12.1 million in cash. Trintech said that it is divesting its payment systems business to concentrate on its transaction reconciliation software products and services.

Trintech's board of directors has approved the sale, which is subject to customary closing conditions and is expected to close by the end of August, 2006. In a joint statement, the companies said that Trintech's unattended and outdoor payment systems will be added to Verifone's self-service payment, vending, and pay-at-the-pump applications.