VeriFone Systems has announced an agreement to acquire Sektor Payments, the EFTPOS division of the Sektor Group, distributing VeriFone EFTPOS terminals.
The companys the Retail Technology, Networking and Mobility divisions of Sektor will continue to remain in their current form and are not involved in this transaction however.
Sektor Payments has had the exclusive distribution rights for VeriFone EFTPOS terminals in New Zealand for the past 3 years, growing quickly in this time to be the largest EFTPOS distributor in the country.
“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," says Rhys Warren, Sektor Distributors MD.
“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”.
The transaction is expected to be finalised early next year, with further recruitment planned for growth in the coming year.
“VeriFone’s purchase of Sektor Payments coincides with its acquisition of EFTPOS New Zealand (ENZ) from ANZ Bank, it secures VeriFone’s position in the New Zealand market place and provides a platform for further growth from VeriFone’s global payment solutions," says Andre van Duiven, Sektor Payments GM.
“Both organisations will continue to leverage their successful existing formulas. Sektor Payments will become 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.
"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”.