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France-based terminal vendor Ingenico Wednesday purchased a 55% stake of Chinese terminal vendor Fujian Landi Ltd. for approximately 11 million euros (US$17 million). The acquisition gives Ingenico the largest market share in China, according to an Ingenico statement. "This acquisition is a significant step in our strategy to enter high-growth markets," Ingenico CEO Philippe Lazare says in a statement. Lazare says the companies will offer products to both the Chinese and northeastern Asian markets, such as Korea. Fujian Landi posted revenues of 18 million euros and deployed 1.5 million POS terminals in 2007.

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