Vivotech Inc. is restructuring its operations and reducing its workforce, the software and systems company announced July 27.
The Santa Clara, Calif.-based company, which last year unsuccessfully worked to acquire the divested U.S. operations of point-of-sale terminal maker Hypercom Corp. after VeriFone Systems Inc. bought it, has been attempting to sell its card-reader business for the past six months.
The sale, however, “has moved slower than anticipated,” according to a July 27 Vivotech press release.
“Vivotech has not ceased operations but is in the process of restructuring operations and has reduced its team to a smaller group with the goals of maintaining customer relationships and core contract work,” the company said in the press release.
Reached on his cell phone, Vivotech chief executive John Peters declined to discuss the future of the company.
Vivotech was founded in 2001 and provides customer experience applications, trusted service manager software, and POS systems for NFC technology. Its investors include Citigroup, First Data Corp., Sprint and NCR.