VeriFone is a company that makes point-of-sale equipment. It was founded and incorporated in Hawaii in 1981, and named itself after its first product, the name standing for Verification telephone. Hewlett-Packard acquired VeriFone in a $1.18bn stock-swap deal in April 1997. Four years later VeriFone was sold to Gores Technology Group in May 2001. VeriFone is based in San Jose, California and has offices in the United States, UK, Philippines, India and Singapore.