VeriFone Acquires EFTPOS Division of Sektor Group

VeriFone Acquires EFTPOS Division of Sektor Group

Today VeriFone Systems, Inc. (NYSE: PAY) announced an agreement to acquire Sektor Payments, the EFTPOS division of the Sektor Group, distributing VeriFone EFTPOS terminals. The Retail Technology, Networking and Mobility divisions of Sektor remain in their current form and are not involved in this transaction. Sektor Payments has had the exclusive distribution rights for VeriFone EFTPOS terminals in New Zealand for the past 3 years. It has grown quickly in this time to be the largest EFTPOS distributor in the country.

Sektor Distributors Managing Director Rhys Warren says “The VeriFone acquisition of the Sektor Payments business in New Zealand allows VeriFone to get one step closer to its reseller and integration partner communities”, Warren continues “Sektor’s core business - the distribution of Retail, Networking and Mobility Technology to Australian and New Zealand Resellers and Integrators in collaboration with Independent Software Vendors, continues to strengthen and grow. We look forward to a collaborative relationship with VeriFone across Australia and New Zealand in the coming years”.

General Manager for Sektor Payments, Andre van Duiven says “VeriFone’s purchase of Sektor Payments coincides with its acquisition of EFTPOS New Zealand (ENZ) from ANZ Bank, it secures VeriFone’s position in the New Zealand market place and provides a platform for further growth from VeriFone’s global payment solutions”.

van Duiven adds “Both organisations will continue to leverage their successful existing formulas. Sektor Payments will become VeriFone New Zealand, while ENZ will keep its current brand and report through to VeriFone’s Point Division in Australia.

“With the industry requiring more sophisticated compliance management and security, this simplification of the international supply chain provides a much more responsive technical and commercial structure. This means new global compliance and security initiatives can be introduced faster to merchants in New Zealand” says van Duiven. He also says however “this will not mean a change to the existing reseller channel model in New Zealand for VeriFone. The current channel has been a key to VeriFone’s success and will continue as it enables better quality of service and market penetration across the whole country”.

The transaction will be finalised early next year. Further recruitment is planned for growth in the coming year.

About the Sektor Group (www.sektor.com.au and www.sektor.co.nz)
Sektor is Australasia’s leading retail technology, networking and mobility distributor. Selling exclusively via its integrator and reseller channel, Sektor’s on-going research into emerging trends and technologies ensures its partners are ideally placed to bring the latest innovations and solutions to their customers. With offices in Sydney, Melbourne, Brisbane, Perth, Auckland and Christchurch, Sektor is focused on bringing fast, knowledgeable and efficient services to its reseller partners in support of the international vendors it represents. Sektor Payments Ltd (www.sektorpayments.co.nz) is New Zealand’s leading EFTPOS payment technology solutions provider.

About VeriFone Systems, Inc. (www.verifone.com)
VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

ENDS

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