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Thursday, Dec. 20 2007
Hypercom Announces Plans to Acquire e-Transactions Business Line of Thales
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PHOENIX, Dec 20, 2007 (BUSINESS WIRE) — Hypercom Corporation (NYSE: HYC), the high security electronic transaction solution provider, announced today that:
– It has entered into exclusive negotiations with Thales SA, a leading international electronics and systems group serving defense, aerospace and security markets worldwide, to acquire the e-Transactions business line of Thales.
– It has obtained a $60 million financing commitment from Francisco Partners.
– Philippe Tartavull has been promoted to Chief Executive Officer and President of Hypercom Corporation, effective immediately, and has been appointed to the Board of Directors. He was previously President and Chief Operating Officer of the Company.
– Norman Stout has been elected Chairman of the Board, replacing Daniel D. Diethelm who will remain as a member of the Board.
– Johann Dreyer, Chief Executive Officer and Director of S1 Corporation, has been appointed to the Hypercom Board of Directors, bringing the total number of directors to six. Upon the closing of the intended acquisition of the e-Transactions business line of Thales, Keith Geeslin, Partner of Francisco Partners, and Jack McDonnell, Jr., retired Chairman, Chief Executive Officer and founder of TNS, are expected to be appointed to the Hypercom Board of Directors.
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Hypercom Adds New Directors
In addition to appointment of Philippe Tartavull, the Company announced today the election of Johann Dreyer to the Hypercom Board of Directors, bringing the total number of directors to six.
In accordance with the terms of the Senior Credit Facility, and upon funding provided simultaneous with the closing of the intended acquisition of Thales e-Transactions, Francisco Partners would be entitled to appoint two members to Hypercom’s Board of Directors – Keith Geeslin and Jack J. McDonnell, Jr.
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About Jack J. McDonnell, Jr.
Jack J. McDonnell, Jr., 70, founded TNS, Inc., a leading provider of data communications services to processors of credit/debit card and ATM transactions globally, in 1990, and served as Chairman and Chief Executive Officer from April 2001 to September 2006.
Prior to that, he served as Chairman and Chief Executive Officer of PaylinX Corp., a software provider for transaction processing, from November 1999 until it was sold to CyberSource Corp in September 2000. Prior to that, Mr. McDonnell founded Transaction Network Services, Inc, in 1990 and served as that company’s President, Chief Executive Officer and director. Mr. McDonnell is also a founder and director of the Electronic Funds Transfer Association. He was the recipient of KPMG Peat Marwick LLP’s 1997 High Tech Entrepreneur Award and the Rensselaer Polytechnic Institute 2002 Entrepreneur Award. Mr. McDonnell is a member of the boards of CyberSource and DealerTrack.
He holds a Masters of Science in Electrical Engineering from Renssalaer Polytechnic Institute, a Bachelor of Science in Electrical Engineering from Manhattan College, and an Honorary Doctorate of Humane Letters from Marymount University.
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SOURCE: Hypercom Corporation
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Dear John,
I belive that Jack is a member of the Class of 1959.
Mike
(Thanks, Mike)
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McDonnell, Jack J. Jr. (MC1959)
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