April 24, 1997 |
Computer giant Hewlett-Packard Co. has agreed to buy VeriFone Inc., a leader in technology for sending cash across the Internet, in a stock swap valued at $1.18 billion. VeriFone is best known as a maker of credit card-swiping devices used by department stores, gas stations and other retailers. But the Redwood City, Calif.-based company is also developing home payment systems and other technologies that could become platforms for cash transactions over the global computer network.
May 11, 2001 |
Gores Technology Group, a Los Angeles-based investment firm, agreed to buy VeriFone, a leading maker of credit card payment systems, from Hewlett-Packard Co. Terms were not disclosed. HP bought VeriFone four years ago for $1.15 billion. VeriFone's products are used to process payments made at gasoline pumps, financial institutions and other businesses. The sale will allow HP, which employs about 1,700 workers at VeriFone, to focus on selling computers and related services, the company said.
May 31, 2000 |
Hewlett-Packard Co. may unveil the divestiture of its VeriFone credit-card authorization business at a meeting today in New York, analysts and investors said. Hewlett-Packard said earlier this month that it might get rid of some of its businesses, but it declined to provide details. Analyst Toni Sacconaghi of Sanford Bernstein & Co. said VeriFone, which Hewlett-Packard bought three years ago for $1.15 billion, is a likely candidate because it hasn't performed well.
April 17, 1997
Citicorp, the nation's second-largest bank, plans to test a system that will turn its customers' living rooms into automated teller machines. The bank said it will test Redwood City-based VeriFone Inc.'s electronic "smart card" system in a pilot program in New York for customers to download money from their bank accounts onto cash cards at home or in the office. Citibank, owned by Citicorp, is looking for an area to test the system with enough interested customers and stores.
August 21, 1999 |
Three people were charged with insider trading related to Hewlett-Packard Co.'s 1997 acquisition of electronic-payment device maker VeriFone Inc., the Securities and Exchange Commission said. One of those charged was the ex-husband of former VeriFone marketing employee Amy Goodson. Goodson, who was not charged by the SEC, told her then-husband, Floyd Goodson, about the acquisition in a confidential conversation about job worries, the SEC said. Floyd Goodson, his father James, and John R.
May 6, 1997 |
It's no surprise that Hewlett-Packard Co. finished another year at or near the top of a bevy of key categories in The Times 100, including sales, profit and market value. The Palo Alto-based dean of high-tech companies has consistently turned in strong performances in a variety of product lines, including printers, calculators and personal computers. Last year HP laid the groundwork to boost its Internet-related business.