VeriFone Holdings, a U.S. maker of point-of-sale payment terminals, has agreed to buy its Israeli counterpart, Lipman Electronic Engineering, for approximately US$793 million, in order to gain access to more wireless and IP payment technologies, the companies announced Monday.The companies sell software and devices for processing payments by card—for example, at supermarket checkouts. VeriFone’s range includes terminals that can connect securely to central banking systems over phone lines, wireless connections or IP networks.VeriFone hopes the acquisition will allow it to expand its share of the market for secure wireless and IP payment systems. Replacing dial-up technology with always-on IP networks can reduce the time it takes to process payments by removing the need to establish a connection for each transaction, while wireless systems make it easier to use electronic payment services in emerging markets with poor fixed-line telecommunications infrastructures.The deal will make VeriFone the largest provider of payment systems in North America, it said. It expects to close the deal by the end of October. The cash and stock offer values Lipman at about $793 million, based on Friday’s closing stock prices, and will lead to dual listing for the combined company on the New York and Tel Aviv stock exchanges.VeriFone, of San Jose, Calif., reported adjusted net income of $49.7 million on revenue of $485.4 million in its fiscal year ended Oct. 31, 2005. Lipman, based in Rosh Haayin, Israel, reported net income of $20 million on revenue of $235.4 million for the year ended Dec. 31. -Peter Sayer, IDG News ServiceCheck out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content brandpost Sponsored by SAP Generative AI’s ‘show me the money’ moment We’re past the hype and slick gen AI sales pitches. Business leaders want results. By Julia White Nov 30, 2023 5 mins Artificial Intelligence brandpost Sponsored by Zscaler How customers capture real economic value with zero trust Unleashing economic value: Zscaler's Zero Trust Exchange transforms security architecture while cutting costs. By Zscaler Nov 30, 2023 4 mins Security brandpost Sponsored by SAP A cloud-based solution to rescue millions from energy poverty Aware of the correlation between energy and financial poverty, Savannah Energy is helping to generate clean, competitively priced electricity across Africa by integrating its old systems into one cloud-based platform. By Keith E. Greenberg, SAP Contributor Nov 30, 2023 5 mins Digital Transformation feature 8 change management questions every IT leader must answer Designed to speed adoption and achieve business outcomes, change management hasn’t historically been a strength of IT orgs. It’s time to flip that script by asking hard questions to hone change strategies. By Stephanie Overby Nov 30, 2023 10 mins Change Management Change Management IT Operations Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe