Smartpay pays $16.3M fpr Viaduct eftpos provider, raises funds

Tue, 11 Dec 2012

By Paul McBeth Dec. 12 (BusinessDesk) - Smartpay, which provides retailers with payments and transactions services, has agreed to buy eftpos terminal provider Viaduct for $16.3 million in cash and shares, a transaction representing almost a third of Smartpay's value. The Auckland-based company will pay $14 million in cash and $2.3 million in shares for Wellington-based Viaduct's eftpos terminal fleet, making Smartpay the biggest operator in terms of terminal numbers and merchants serviced, it said in a statement. The cash component will be f...

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