Point acquires payment terminal business from Steria in Norway

2007-09-06

Point has through its subsidiary Point Transaction Systems AS, Norway, signed an agreement to acquire all the payment terminal business from Steria in Norway.

The acquired business comprises an installed terminal base of approx. 20,000 point-of-sale terminals on the Norwegian market. The acquisition will further strengthen Point’s position as the leading Nordic/Baltic player in the market for electronic transaction payments.

Prior to the acquisition, Point already has a well-established organisation including a stand-alone service and customer support division in Norway. Consequently, Point has the infrastructure and procedures in place and the necessary skills to give the customers the best professional services.

Michael Sundin, CEO, Point Group:
“The acquisition in Norway together with our recent acquisitions in Finland and Denmark are natural growth steps for Point, as the leading terminal manager in the Nordic and Baltic region. Point’s experience from similar transactions together with our long term presence in the market will secure a smooth transition of Steria’s customer base to Point in Norway as well as the roll-out of next generation of fast and secure terminals.”

The closing of the transaction is 1 October 2007, subject to approval from competition authorities. The parties have agreed not to disclose the transaction value.

For more information, please contact:
Michael Sundin Töger Lien
CEO, Point Group MD, Point Transaction Systems AS
Tel: +46 8 640 81 00 Tel: +47 23 24 74 10

Point International was established in Oslo, Norway in 1987 and has 20 years of experience in the electronic payments industry. Point has approx 300 employees operating in 7 Nordic and Baltic countries, where we now have an installed base of approx. 280.000 point-of-sale devices. We supply tools for efficient and secure electronic transaction handling. Besides fast and secure hardware solutions we deliver services such as software development, helpdesk, maintenance and program- and parameter downloading. The latest additions to our wide range of services are transaction switching and routing.