Hypercom Corp., a Phoenix-based payment technology company, plans to acquire Thales SA's e-transactions business line for $120 million in cash with a potential earn-out of up to $30 million more. It also has obtained a $60 million financing commitment from Francisco Partners. In addition, it has made a number of management changes, including the naming of Philippe Tartavull as chief executive officer and a director. It has also named Norman Stout chairman, and expects to appoint Keith Geeslin and Jack McDonnell, Jr. to the board. Geeslin is a partner of Francisco Partners.
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