ViVOtech Refreshes Offer For Hypercom's US Assets

Law360, New York (May 13, 2011, 5:15 PM EDT) -- California-based ViVOtech announced Friday that it had renewed an offer to buy the U.S. assets of Hypercom Corp., one day after the U.S. Department of Justice filed an antitrust suit to stop VeriFone Systems Inc.'s proposed $485 million acquisition of Hypercom.

The near field communication company's offer would help resolve the federal government's concerns that the takeover would curb competition in the U.S. market for point-of-sale terminals — credit card swipe machines — and drive up prices, according to ViVOtech CEO Michael Mullagh.

VeriFone announced plans...
To view the full article, register now.