An investor group led by Francisco Partners agreed to acquire Verifone Systems Inc, the San Jose, California, provider of payment and commerce solutions, in a take-private deal for $23.04 a share cash, or a total of about $3.4 billion.
Also included in the investor group is British Columbia Investment Management Corp.
The deal is expected to close during the third quarter of 2018.
Qatalyst Partners is financial adviser to Verifone with Sullivan & Cromwell LLP providing legal advice. Also, Credit Suisse, Barclays and Royal Bank of Canada are providing financial advice to the buyers while Kirkland & Ellis LLP is legal adviser.
Handshake of businessmen. Photo courtesy of Kritchanut/iStock/Getty Images
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