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Posera-HDX Ltd
Symbol HDX
Shares Issued 59,374,088
Close 2014-10-21 C$ 0.29
Market Cap C$ 17,218,486
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Posera-HDX to sell Casio POS terminals in North America

2014-10-23 12:20 ET - News Release

Mr. Paul Howell reports

HDX REACHES NORTH AMERICAN DISTRIBUTION AGREEMENT WITH CASIO AMERICA INC.

Posera-HDX Ltd. has reached an agreement with Casio America Inc. of Dover, N.J., to distribute point-of-sale (POS) terminals and cash registers throughout North America.

Founded in 1946, Casio began North American operations in 1967, and released its first electronic cash register in 1976. Today, Casio's extensive product line includes all-in-one Android-based POS terminals designed specifically for secure retail and hospitality industries. Casio also offers entry-level cash registers and mid-range cash registers with payment processing and loyalty solution integration capabilities.

HDX has been a master distributor of cash registers and POS terminals to Canadian resellers since April, 1995, and has distributed tens of thousands of units to over 60 resellers in Canada. HDX has historically acquired Japanese manufactured terminals inside Canada at a cost disadvantage to U.S. counterparts. The Casio partnership provides HDX with a broader product line and allows HDX to acquire terminals at U.S. rates and distribute them throughout the United States and Canada. HDX has over 40 resellers throughout the United States that it has previously been unable to supply with cash registers due to the cross-border contract restraints with a previous manufacturer that has exited the cash register market. HDX will also distribute Casio terminals direct to end-users from its corporate U.S. offices through a direct sales team.

HDX will combine its software solutions with the Casio hardware suite to offer merchants best-in-breed POS and payment solutions in time for the coming U.S. merchant liability shift for EMV (Europay, MasterCard and Visa) chip and PIN (personal identification number) slated for October, 2015. HDX has developed and deployed EMV-chip-enabled and PIN-enabled solutions at thousands of merchant locations throughout Europe and Canada over many years and is well prepared to scale the combined organization for the coming opportunity in the United States.

Paul Howell, chief executive officer of HDX, commented: "Casio is a well-respected, high-quality manufacturer of POS equipment with a proven track record for innovation and an enormous base of deployed terminals. Our sales agents and reseller partners throughout North America are in need of a more complete product offering, and this agreement will provide our associates with the necessary tools to grow our business. The partnership with Casio is an important strategic development for our company to provide entry-level, secure POS solutions, combined with integrated payment solutions and enterprise management solutions, to new and existing merchants throughout North America."

HDX has demonstrated a clear strategy toward building its U.S. operations and has successfully acquired and integrated seven businesses between 2007 and 2013. Merger and acquisition activity for 2014 has been especially aggressive in advance of the U.S. merchant liability shift for EMV chip and PIN slated for October, 2015.

On June 18, 2014, HDX announced a letter of intent to acquire Terminal Management Concepts Ltd., a payments software developer based in Markham, Ont., specializing in EMV chip and PIN pay-at-the-table wireless solutions with integrations to multiple POS software solutions that are deployed throughout the United States and Canada.

On Oct. 1, 2014, HDX announced a letter of intent to acquire the Chicago area company Premier Payment Systems Inc. Founded in 2010, Premier Payment Systems provides payment processing solutions for debit and credit transactions to clients throughout the United States. Premier has established its own bank identification number (BIN), maintains multiple front-end authorization network agreements, holds its payment processing agreements directly with its merchants, performs its own continuing risk monitoring and underwriting, and has the ability to transfer its merchant processing base from one back-end settlement network and sponsor bank to another if necessary.

In December, 2013, HDX acquired payments processing company Zomaron Merchant Services of London, Ont. Since September, 2013, Zomaron has grown its merchant client base by 43 per cent, and the average monthly processing volume per merchant has increased from approximately $18,126 to $20,988.

The completion of any transaction as contemplated by the above-noted letters of intent are subject to several conditions, including the completion of all necessary legal, financial and technical due diligence reviews, the entering into a definitive agreement between the parties, and receipt of all necessary consents and approvals, including board and regulatory approvals.

We seek Safe Harbor.

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