VeriFone and Lipman electronic agreement recently completed the acquisition of

VeriFone Holdings Co., Ltd. and Lipman Electronic Engineering 10 announced: they have reached agreement to acquire VeriFone Lipman; Lipman company is a company located in the electronic payment system provider, Israel Ross (Rosh Haayin) Al Ain city. Following the acquisition, VeriFone will become the world's largest electronic payment solutions and service providers, and can be the most efficient access to emerging markets and IP or wireless payment system based on the rapid growth boom.

VeriFone Holdings Limited chairman and chief executive officer Glass Bojni (Douglas G. Bergeron) said: "this acquisition provides an excellent opportunity for VeriFone. The two companies are the fastest growing and most profitable electronic payment technology provider. Geographically, they are complementary, will become a leader in North America and emerging markets, and will occupy the first or second place in many other key markets worldwide. Through this acquisition, we will expand our technical advantages, especially in the fast-growing wireless and IP market segments. Most importantly, we will be able to market new technologies at a faster rate, providing a wider range of solutions and services to our global customers."

Lipman president and CEO Isaac Angel said: "since its establishment in 1974, the company has created innovative Lipman wireless payment technology and leading record, the two emerging market in the lack of wired telephone infrastructure and on seizing of the global mobile payment business plays a vital role. VeriFone global sales and marketing channels will increase our chances of entering the emerging market with huge growth potential."

In the fiscal year ended October 31, 2005, VeriFone's net income was $485 million 400 thousand, an increase of 24% over the same period in 2004, domestic and international growth rate considerably more than the industry growth rate, indicating that the market share is increasing. Adjusted net income of $49 million 700 thousand. Lipman is the end of the fiscal year December 31, 2005 revenue of $235 million 400 thousand, an increase of 30.4% over the same period in 2004, net income for the year (US GAAP) $20 million, calculated in accordance with U.S. gaap. The acquisition is subject to the consent of both the company's shareholders, while obtaining the relevant regulatory unit's permission.