« Previous | Next » | All Messages |  HYC Message Board Home | recommend post |  Ignore Poster

HYC News Hypercom Acquires Technology and Assets of TPI Software LLC

PHOENIX--(BUSINESS WIRE)--Hypercom Corporation (NYSE: HYC) today announced that it recently completed the acquisition of the technology and assets of TPI Software, LLC, a leading provider of PC and enterprise server-based credit/debit/gift card, EBT, ACH and electronic check processing software. The acquisition is expected to expand Hypercom’s offerings and capabilities in the point-of-sale marketplace and to provide a platform for future growth in software-based services.

The acquisition of TPI Software broadens Hypercom’s customer base and enables the generation of new revenue streams by addressing the technology requirements of, and rising market interest in, a converged payment infrastructure that places electronic payment functionality on PC-based cash registers.

“TPI’s SmartPayments technology and software allows Hypercom to provide a world-class offering that satisfies the needs of merchants who prefer to integrate electronic transaction and peripherals into their PC-based point-of-sale systems. We believe that this acquisition will speed adoption of Hypercom’s multi-lane terminals in new markets and allow us to broaden our solution sales,” said William Keiper, Hypercom President and CEO. “We like TPI’s capabilities and their people, and envision software and services extended beyond their present offerings. TPI is yet another element in our strategy to grow our services and software businesses and revenues globally. ”

Bill Pittman, TPI Principal and Co-Founder, added, “We are excited to join the Hypercom team. TPI’s innovative solutions combined with Hypercom’s brand, payment products, excellent services, strong client relationships and resources to fuel growth will provide compelling solutions for the global marketplace.”

John Andrews, Hypercom Senior Vice President, Global Services, commented, “TPI’s SmartPayments offerings address growing needs we see in the market every day including client-side software that adds electronic transaction capabilities to PC-based point-of-sale systems and allows those systems to interface with card readers, PIN pads and other POS peripheral devices. TPI solutions also address the electronic transaction requirements of small retailers, corporate headquarters of multi-store operations, and data centers that process payments for multiple businesses through server-side enterprise software.”

The SmartPayments family of products will be available from Hypercom and its distributors and business partners worldwide. Financial details were not disclosed.

About TPI Software (www.TPISoft.com)

TPI Software, based in Redmond, Washington, is a leading provider of innovative payment technologies for processing credit card, debit/ATM card, EBT, Gift card, electronic check services (verification, guarantee & conversion) and electronic signature/receipt & check image capture and retrieval services. TPI Software developed TPI SmartPayments™, an electronic payment solution that supports the major US payment processors as well as client solutions that work on any device, at anytime and anyplace. TPI Software’s technology is an alternative to the stand-alone single-function bank terminals many businesses currently use to process payments and provides a full suite of Payment Web services that can be integrated into Electronic Commerce environments, MOTO or retail Point-of-Sale systems. TPI Software has established long-standing relationships with banks and institutions that help process electronic payment transactions. TPI Software will continue to be located in Redmond, Washington, and can be reached through the Internet at www.TPISoft.com or by calling (425) 882-0921.

About Hypercom (www.hypercom.com)

Global payment technology leader Hypercom Corporation (NYSE: HYC) delivers a full suite of high security, end-to-end electronic payment products and services. The company’s solutions address the high security electronic transaction needs of banks and other financial institutions, processors, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, healthcare, prepaid, unattended and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits.

Hypercom is a registered trademark of Hypercom Corporation. All other products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners. This press release includes statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding expected acquisition results and benefits, market acceptance of new products and services, product performance, product sales, revenues and profits. These forward-looking statements are based on management’s current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward-looking statements include, the ability to successfully integrate the technologies, operations and personnel of acquired businesses in a timely manner; the ability to obtain the expected strategic and financial benefits from acquisitions; industry, competitive and technological changes; the loss of, and failure to replace any significant customers; the composition, timing and size of orders from and shipments to major customers; inventory obsolescence; market acceptance of new products and services; the performance of suppliers and subcontractors; risks associated with international operations and foreign currency fluctuations; the state of the U.S. and global economies in general and other risks detailed in our filings with the Securities and Exchange Commission , including the Company's most recent 10-K and subsequent 10-Qs. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements. HYCP