Francisco Partners to Acquire Verifone Systems

Verifone Systems, Inc. and Francisco Partners, have entered into a definitive agreement under which an investor group led by Francisco Partners and including British Columbia Investment Management Corporation will acquire Verifone for a total consideration of approximately $3.4 billion, which includes Verifone’s net debt.

Verifone’s board of directors unanimously approved the agreement.

The transaction is expected to close during the third quarter of 2018, upon which Verifone Systems will become a privately held company.