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VeriFone to acquire Korea's Orange Logic

Mon, 05/17/2010 - 10:30am
The Associated Press

VeriFone Holdings Inc. has agreed to acquire South Korean payment systems provider Orange Logic Ltd., the company said Monday.

Financial terms of the deal were not disclosed. Orange Logic, founded in 2004, supplies electronic payment devices to customers in the South Korean retail and banking industries.

VeriFone, based in San Jose, Calif., said the deal will allow it to expand its reach into growing markets.

Shares of VeriFone fell 44 cents to $18.39 in afternoon trading.

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