VeriFone Systems, which manages electronic payment tranfers, has offered $290 million to purchase Hypercom Corporation. Verifone says the deal will be paid all in cash, as it's all-stock offer was rejected recently.
"This deal is excellent for VeriFone," Said Andy "Raw" Kibbens, co-CEO of The Markets Are Open. "[VeriFone] will increase its share as a global provider of secure transaction terminals, networking devices, and management systems."
Hypercom shares were up over 45% in after-hours trading.