LOS ANGELES, Sep 28, 2010 -- B. Riley & Co., LLC (www.brileyco.com), a full service broker dealer providing research, investment banking, sales and trading, announced it served as a financial advisor to Semtek Innovation Solutions Corporation as part of its acquisition by VeriFone Systems, Inc. (NYSE: PAY) and provided a fairness opinion. B. Riley Managing Director Michael Lowell and Vice President Dennis Alshuler led the banking team in this engagement.
San Diego-based Semtek Innovation Solutions is a leading provider of end to end encryption solutions for the payment processing industry. Semtek had previously raised money from VeriFone, Venrock and RRE Ventures, among others. Semtek shareholders received VeriFone common shares that valued the acquired company at $17.6 million.
B. Riley has successfully completed over 350 engagements with more than $16 billion in aggregate transaction value in a variety of industry sectors, including Consumer, Retail, Restaurants, Technology, Electronics, Financial Services, Industrials, Business Services, and Special Situations.
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