Follow @USApostille
Our Videos |
May 13, 11
NEWS / Justice Department Files Antitrust Lawsuit to Stop VeriFone from Buying Hypercom and Entering into ADeal Would Substantially Reduce Competition in Sale of Point of Service Terminals Resulting in Higher Prices and Reduced Innovation, Quality, Product Variety, Service WASHINGTON — The Department of Justice filed a civil antitrust lawsuit today to block the proposed acquisition by VeriFone Systems Inc. of Hypercom Corp. The department said that the proposed deal would substantially lessen competition in the sale of point-of-sale (POS) terminals in the United States, resulting in higher prices and reduced innovation, quality, product variety, and service. The department said that although VeriFone and Hypercom proposed a fix to resolve the antitrust concerns with the merger, it did not adequately resolve the competitive concerns. The department filed its lawsuit in U.S. District Court in Washington, D.C. POS terminals are used by retailers and other firms to accept electronic payments such as credit cards and debit cards. VeriFone and Hypercom together control more than 60 percent of the U.S. market for the POS terminals used by the largest retailers. They are two of only three substantial sellers of other types of POS terminals. “The combination of VeriFone and Hypercom would likely lead to retailers paying higher prices for POS terminals,” said Christine Varney, Assistant Attorney General in charge of the Department of Justice’s Antitrust Division. “The proposed divestiture does not resolve the significant competitive concerns posed by the merger, and in some ways exacerbates them.” On Nov. 17, 2010, VeriFone agreed to purchase Hypercom in a transaction valued at $485 million. In an effort to resolve antitrust issues with the merger, Hypercom announced on April 4, 2011, that it had entered into an agreement to sell its U.S. business to Ingenico S.A., the largest provider of POS terminals worldwide and the only other significant competitor to VeriFone and Hypercom in the United States. According to the department’s complaint, the planned sale of Hypercom’s U.S. POS terminal business to Ingenico does not resolve the antitrust concerns raised by the VeriFone/Hypercom transaction because the assets are to be sold to another significant competitor in the market in a manner that does not create a new, independent, long-term competitor. In addition, the structure of the agreements between Ingenico and VeriFone, the only two significant POS sellers in the United States post-merger, enhances VeriFone and Ingenico’s ability to coordinate pricing for all POS terminals. VeriFone is a Delaware corporation headquartered in San Jose, Calif. VeriFone earned more than $1 billion in worldwide revenues in its last fiscal year, ending in October 2010. Hypercom is a Delaware corporation headquartered in Alpharetta, Ga. Hypercom earned more than $450 million in worldwide revenues in 2010. Ingenico is a French corporation with worldwide revenues in 2010 of more than $1.3 billion. http://www.justice.gov/opa/pr/2011/May/11-at-611.html Tags: corporation, |
Do you need
We do Retrieval, Preparation and Legalization.
Power of attorney
Vital records
Birth certificate
Marriage Certificate
Single Status Affidavit
No Record of a Marriage
Certificate of No Marriage Record
Divorce Certificate
Divorce Decree
Death certificate
Criminal Record
Certificate of good conduct
Criminal Background Check
Foreign Driver License
Documents for transportation of the Deceased
Children's Travel Consent Letter
Evaluation of Foreign Education Credentials for US
Letter of Invitation for USA Visa
Documents for Avoiding Double Taxation
|
TestimonialsAnnaMaria RealbutoThank you for all your assistance and efficiency... Read More » Kateryna Melnychenko Thanks a lot Anton!... Read More » Rani Payne Thank you so much! I’m sure I will be in touch again with something else that will need to be apost... Read More » Serge Bauer Law Thank you again for your help with this case!... Read More » |
FAQDo I need a permit or license for my business?Read More » Since when does the Wassenaar Arrangement exist? Read More » Is there a waiting period? Can we get married right away? Read More » If a student was not in an authorized period of OPT on the eligibility date, can the student work during the cap gap extension? Read More » |
Quick MenuCertificate of good conductapostille Germany apostille Argentina apostille Bahamas, The apostille Netherlands Antilles apostille Japan apostille Saint Lucia apostille Bangladesh apostille Libya apostille Indiana apostille Zimbabwe apostille Vermont apostille Malawi apostille Mongolia apostille Kuwait apostille French Polynesia |
NewsApril 11, 23Fleetwood Mac keyboardist and vocalist Christine McVie died of stroke and cancer-death certificate Read More » March 27, 23 China joins Apostille Convention Read More » March 18, 23 California to permanently seal old convictions on criminal records Read More » March 3, 23 Saudi Arabia issues guidance on apostille procedure Read More » |