In re VeriFone Holdings' Acquisition of Lipman Electronics Engineering
VeriFone Holdings, a global provider of secure electronic payment technologies, sought to acquire Lipman Electronics Engineering, a designer, developer and manufacturer of advanced solutions for the electronic payment industry. Counsel for both sides – Sullivan & Cromwell for VeriFone, and Fulbright & Jaworski for Lipman – retained Analysis Group to examine issues related to the competitiveness of the point-of-sale terminal manufacturing industry. We supported our academic affiliate Robert S. Pindyck in his analysis of recent and potential entry to the market, market shares, price and quality competition in the POS space, and buyer power and vertical integration issues.
The Department of Justice approved the $793 million acquisition in September 2006.