Market Overview

Francisco Partners Completes Acquisition of Verifone


Mike Pulli assumes role of CEO at Verifone

Verifone Systems, Inc. ("Verifone" or the "Company"), a global leader in
payment and commerce solutions, today announced that it has been
acquired by an investor group led by Francisco Partners, a leading
technology focused private equity firm, and including British Columbia
Investment Management Corporation. The acquisition was previously
announced on April 9, 2018 and closed and became effective today.

With the transaction completed, Mike Pulli becomes Verifone's new CEO.

"The closing of this transaction represents a new and exciting chapter
for Verifone as we seek to continue the transformation of Verifone from
a terminal sales company to a leading provider of payments and commerce
solutions," said Mike Pulli, CEO of Verifone. "Francisco Partners brings
deep industry expertise in payments technology, systems and software
that will help Verifone execute on its vision for the future. Together,
we look forward to leveraging and further accelerating Verifone's
technology to drive value for Verifone's merchant customers and channel
partners around the world."

"Verifone's payments technology is critical to the operation of
merchants around the world. We are excited to build upon Verifone's
strong platform to continue to drive growth and bring additional
capabilities to Verifone's customers," said Peter Christodoulo, Partner
at Francisco Partners. "We look forward to working with Mike and the
Verifone team to strengthen the Verifone franchise and bring innovative
payments and commerce solutions to Verifone's customers."

Under the terms of the transaction, Verifone stockholders received
$23.04 per share in cash. As a result of the completion of the
acquisition, Verifone's common stock has ceased to trade on the New York
Stock Exchange (NYSE).

About Verifone

Verifone is transforming every day transactions into new and engaging
opportunities for merchants and consumers at the last inch of payments
and commerce. Powered by a growing footprint of more than 30 million
devices in more than 150 countries, our people are trusted experts
working with the world's best-known retail brands, financial
institutions, and payment providers. Verifone is connecting more
products to an integrated solutions platform to better meet the evolving
needs of our clients and partners. Built on a 35-year history of
uncompromised security, we are committed to consistently solving the
most complex payment challenges.
| @Verifone

About Francisco Partners

Francisco Partners is a leading global private equity firm, which
specializes in investments in technology and technology-enabled services
businesses. Since its launch over 18 years ago, Francisco Partners has
raised over $14 billion in committed capital and invested in more than
200 technology companies, making it one of the most active and
longstanding investors in the technology industry. The firm invests in
opportunities where its deep sectoral knowledge and operational
expertise can help companies realize their full potential. For more
information, please visit

About British Columbia Investment Management Corporation (BCI)

With C$145.6 billion of managed net assets as at March 31, 2018, British
Columbia Investment Management Corporation (BCI) is one of Canada's
largest institutional investors within the global capital markets. Based
in Victoria, British Columbia, BCI is a long-term investor that invests
in all major asset classes including private equity. BCI's private
equity program, valued at C$10.3 billion, is focused on direct
investments in sectors such as technology, consumer/retail, industrials,
healthcare, as well as financial and business services. BCI's clients
include public sector pension plans, public trusts, and insurance funds.

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