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Verifone Systems Inc. on Dec. 11 sold its taxi business for $30 million in cash consideration.
The company retained a minority equity interest in the divested business. The net proceeds from the transaction, along with available cash, will be used to complete the remaining $50 million authorized under its $200 million share buyback program. The company's board has also authorized an additional $100 million share buyback program, which the company plans to execute over the coming 12 to 18 months.
Additionally, Verifone has disclosed its financial outlook for first fiscal quarter and full fiscal year of 2018. For...