VeriFone has acquired Sektor Payments, the division of the Sektor Group that distributes EFTPOS terminals.
The transaction does not include the retail technology, networking and mobility divisions of Sektor.
Sektor Payments has had the exclusive distribution rights for VeriFone EFTPOS terminals in New Zealand for the past three years.
“The VeriFone acquisition of the Sektor Payments business in New Zealand allows VeriFone to get one step closer to its reseller and integration partner communities”, Warren continues “Sektor’s core business - the distribution of Retail, Networking and Mobility Technology to Australian and New Zealand resellers and integrators in collaboration with Independent Software Vendors, continues to strengthen and grow. We look forward to a collaborative relationship with VeriFone across Australia and New Zealand in the coming years," says Sektor Distributors' managing director Rhys Warren.
According to Sektor Payments' general manager Andre van Duiven, "VeriFone's purchase of Sektor Payments coincides with its acquisition of EFTPOS New Zealand (ENZ) from ANZ Bank, [and] it secures VeriFone’s position in the New Zealand market place and provides a platform for further growth from VeriFone’s global payment solutions".
Sektor Payments will become part of VeriFone New Zealand, while ENZ will keep its current brand and report through to VeriFone's Point Division in Australia.
“With the industry requiring more sophisticated compliance management and security, this simplification of the international supply chain provides a much more responsive technical and commercial structure. This means new global compliance and security initiatives can be introduced faster to merchants in New Zealand” says van Duiven. He also says however “this will not mean a change to the existing reseller channel model in New Zealand for VeriFone. The current channel has been a key to VeriFone’s success and will continue as it enables better quality of service and market penetration across the whole country”.
The two companies will finalise the transaction early next year and further recruitment is planned for 2013.
