VeriFone Acquires WAY Systems For Up To $9 Million (They Raised Over $50 Million)

Electronic payment solutions provider VeriFone Systems this morning announced it has acquired the assets of WAY Systems , a provider of mobile POS solutions and gateway services for mobile merchants. The purchase price consisted of an upfront payment of $6 million and an earn-out payable in one year of up to an additional $3 million dollars should certain performance targets be met. VeriFone says the acquisition will not have a material impact on its financial results.