VeriFone Buys Remaining Stake In Transportation Systems Business
April 6, 2010 (FinancialWire) — VeriFone Holdings, Inc. (NYSE: PAY) said it has acquired the remaining minority interest in VeriFone Transportation Systems and aligned all VTS operations within VeriFone’s Integrated Systems organization. Financial terms were not disclosed.
VTS was formed as a joint venture with TaxiTronic, Inc., in 2005, for the purpose of equipping taxis with integrated fleet management and customer payment systems.
VeriFone said that acquiring the remaining minority interest in VTS allows it to further drive the rapid adoption of the payment systems within the transportation segment, particularly in international markets.
California-based VeriFone Holdings offers secure electronic payment solutions.
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