Verifone acquires Germany-based InterCard AG
InterCard, based in Munich, is a family-owned business that was founded in 1992.
Verifone Monday announced it has signed an agreement to acquire InterCard AG, a leading payment-as-a-service provider in Germany.
Terms of the deal were not disclosed. Closure is dependent on the approval of the German Federal Financial Supervisory Authority, BaFin, and the German Federal Cartel Office, Bundeskartellamt. Verifone will provide additional information regarding the pending acquisition on the company's upcoming Q4 FY15 Earnings call on Dec. 14.
"This announcement reaffirms our commitment to meeting the needs of our retail clients who are increasingly seeking new services and assistance as they grow across Europe," June Felix, president of Verifone Europe, said in a press release. "The acquisition of InterCard will provide retailers with access to a fuller suite of payment acceptance services across the continent."
InterCard, based in Munich, is a family-owned business that was founded in 1992. For more than 20 years, the company has provided a full suite of payment services including terminal sales and leasing, field support services such as helpdesk, installation and maintenance, and gateway services, such as transaction routing, according to the announcement.
Verifone said that the combination of Verifone and InterCard in Germany creates a point of sale terminal and multichannel payment-as-a-service provider capable of offering merchants secure, simple and innovative end-to-end payment and commerce solutions, according to the announcement.