Thales has annouced that it has executed a share purchase agreement with Hypercom to sell its e-transaction business.

Such an agreeement, which is in accordance with the binding offer made by Hypercom on December 20, is only subject to anti-trust filings. Closing is expected to occur by March 31 and cash amount to be received by Thales stands at $120M, plus potential conditional payment up to $30M based on 2008 results.

Jean-Loup Picard, senior vice president strategy, research, technology of Thales, declared "We are very satisfied with the successful completion of this major step towards the creation of a global market leader in the domain of electronic payments.”