VeriFone Buys WAY Systems
San Jose-based VeriFone Systems said this morning it has acquired the assets of WAY Systems, a developer of mobile, point-of-service (POS) products and gateways for merchants. According to VeriFone, it will pay $6M upfront and up to $3M in earnout, based on performance targets, for WAY. WAY Systems has raised more than $50M in funding, from Bill Melton, the founder of VeriFone, plus Bessemer Venture Partners, Austin Ventures, and Lighthouse Capital Partners. WAY Systems was based in Boston.
posted on Wednesday, September 1, 2010
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