Press Release

Kirkland Advises Francisco Partners in $3.4 Billion Acquisition of Verifone Systems

Kirkland & Ellis LLP represents Francisco Partners, a leading technology-focused private equity firm, which today announced that, along with British Columbia Investment Management Corporation (BCI), it has entered into a definitive agreement to acquire Verifone Systems, Inc. (NYSE: PAY) for $23.04 per share in cash, representing a total consideration of approximately $3.4 billion, which includes Verifone’s debt. The Verifone board of directors has unanimously approved the definitive agreement and recommends that Verifone stockholders vote in favor of the transaction. Upon completion of the transaction, Verifone, a world leader in payment and commerce solutions, will become a privately held company. The transaction is expected to close during the third calendar quarter of 2018, subject to customary closing conditions, including receipt of stockholder and regulatory approvals. More information on the transaction is available in the company press release.

The Kirkland team was led by corporate partners Adam Phillips, Robert Hayward, Robert Goedert, Sean Kramer, Anjna Mehta and James Beach, debt finance partners Christopher Kirkham and Brian Ford, technology & IP transactions partner Matthew Lovell, and regulatory partner Edwin del Hierro and of counsel Julie Kunetka.