Technology firms Cadmus and Provenco have changed the terms of their proposed $140 million merger.

In a statement today the companies said the new proposal would see 4.2 Cadmus shares exchanged for 1 Provenco share. This ratio is in line with advice from independent expert Grant Samuel in a draft report provided to both companies. Grant Samuel considered a ratio of 4.2 to be fair to shareholders. Read more here.

So at todays share price you could buy Cadmus shares and end up with Provenco shares at 37.8 cents per share. A 9% discount on todays price.

Payment technology provider Hypercom Corp. said Thursday it will move forward with its planned acquisition of the electronic transactions unit of Thales SA, effectively rejecting a takeover bid by Ingenico SA.

Last week, French payment technology company Ingenico offered to buy Hypercom for $6.25 per share, representing a 28 percent premium to the stock’s closing price before the proposal was announced.  Read more here

Following on the news of the Commerce Commission approval of the Cadmus Provenco merger there has been an international bid by Ingenico for Hypercom (HYC). This has been a very interesting process as the value of the offer and the open letters indicate. This follows on from Ingenico’s purchase of Sagem and would seem to a huge scale advantage for Ingenico Continue reading ‘Ingenico Bids $332M for Hypercom’

Currently our customer services is performed by all staff and we continue to answer the phone within three rings, however due to growth we now need a dedicated customer service to provide the level of service we want for our customers. If you know of anyone or would like to apply then please give us a call on 0800484238 and ask for Mark.

The position description is here.CSR Position Description

There is more on the job on Trademe

We are trialing a new service that may benefit some of our customers both in terms of the support we give them and for their own business. The service is TXT ME and for business owners it is a way of keeping in touch with your customers.

We are using it to provide network and terminal updates, including the general release of broadband eftpos. If you are interested please visit the form below and fill in your details. The service is free for customers and will keep you in touch with the eftpos news.

http://www.textme.net.nz/viaduct

Paymark as released the following eftpos stats

• During December 2007 New Zealanders spent over $4 billion across the country via 70 million transactions processed through the Paymark network alone, up 8% year-on-year.
• Across the country, New Zealanders spent more than $1 billion in the week before Christmas, with spending hitting an all-time peak just after lunch on Christmas Eve. At this time, Paymark was processing more than 110 transactions per second. During the hour from 12.00-1.00pm the same day, 370,000 electronic transactions were processed.
• From December 31 to January 6 more than 14 million electronic transactions were made across the country, up 17% on last year indicating a steady start to 2008
• The Paymark system processes three quarters of all electronic transactions in New Zealand. Nearly 90% of Kiwis have a debit card, putting us ahead of any other country in the world in terms of Eftpos use.

The Commerce Commission has cleared the proposed merger between Cadmus Technology Limited (Cadmus) and Provenco Group Limited (Provenco). The written release has not been done but you can read more here.

Commission Chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.

As long as it does not lessen competition this should be good news for merchants as potentialy it should make the terminal choice easier as the various software options get ported across more terminals. However this is the ideal scenario. We could yet see one less terminal in the market as both companies try and consolidate their position and reduce their overheads. It would be good to see the success of eftpos in the New Zealand market taken global.

Cadmus & Provenco are listed on the New Zealand Stock Exchange.

Continue reading ‘Cadmus and Provenco eftpos cleared to merge’

Trust everyone enjoyed Waitangi day, our phones were very quite so it seems like most people enjoyed their holiday.  We have had some good feedback recently which is a great reflection on our staff and our company goals.  The most recent from Kelly at Spineworks.

 The new eftpos machine arrived yesterday and itâ??s perfect for our requirements. I just wanted to drop you a line to thank you and the Viaduct team for your excellent customer service. We just received a courtesy call to ensure everything was OK which was the icing on the cake. Working in a service industry myself I appreciate it when I receive top quality service which doesnâ??t happen all that often. Thanks very much for your help.
Cheers
Kelly

EFTPOS New Zealand have provided a number of updates with regards to the upgrade of terminals to meet EMV and 3 des standards.

1. The are still in a disconnection grace period so you still have time to upgrade before terminals will be disconnected. They are waiting until all software versions are available before beginning the disconnection process.

2. The k23 and K78 software versions are ready and we will begin the upgrade for these terminals shortly.

3. The Hypercom and NPT are still in pilot and are not ready to be upgraded.

As always we will keep you updated but if you have any questions please call us on 0800 484 238.