An affiliate of the Gores Group plans to acquire the U.S. point-of-sale checkout business of Hypercom Corp for an undisclosed amount.

The sale was part of a deal to gain regulatory approval of the merger between Hypercom of Scottsdale, Ariz. and VeriFone Systems Inc. of San Jose, which closed late Thursday.

Gores Group, the Westwood investment firm headed by billionaire financier Alec Gores, said the Hypercom unit is a valuable addition to its financial services portfolio. The business provides electronic payment and transaction devices and services for retail and banking customers around the United States.

“The Gores Group has a reputation for successfully completing acquisitions and operating corporate carve-outs such as this, and we expect this to be a smooth transition,” said Clint Jones, president of the acquired business. “The fact that they have previous experience in the point-of-sale products industry will be of great value to our customers and employees moving forward.”

Federal regulators had sued to block the $485 million merger between Hypercom and VeriFone on concerns that the combination would hinder competition among companies providing retail checkout terminals and services.