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Private Equity

Verifone Acquisition Announced, Shares Surge

by cnbc.com posted 8months ago 30 views
A private equity firm-led investor group announced it would acquire Verifone in a $3.4 billion deal. : Shares of Verifone skyrocketed more than 50 percent in extended trading after a private equity firm-led investor group announced it would acquire the electronic payment company in a $3.4 billion deal. Verifone's stock has fallen about 70% from its peak in 2011. The company's point-of-sale systems, including its widespread credit-card readers, have struggled in competition with lower-priced competitors, especially in emerging markets like Brazil.