Verifone going private in $3.4 billion deal

Photo by: Jeffrey Greenberg/UIG via Getty Image

Private equity firm Francisco Partners has agreed to buy payments technology company Verifone for around $3.4 billion (including nearly $850m of debt), or $23.04 per share (54% premium over Monday's closing price).

Bottom line: This is a very high-stakes turnaround, as Verifone shares closed yesterday at their lowest level since late 2009.