Payments and transactions services firm Smartpay has agreed to buy Eftpos terminal provider Viaduct for NZ$16.3 million (A$13.0 million) in cash and shares. The transaction represents almost a third of Smartpay's value.The Auckland-based company will pay NZ$14 million in cash and NZ$2.3 million in shares for Wellington-based Viaduct's eftpos terminal fleet, making Smartpay New Zealand's biggest operator in terms of terminal numbers and merchants serviced, it said in a statement. The cash component will be funded through extra debt and a NZ$3.7 million private placement of new shares to institutional and sophisticated investors.The placement and shares issued to Viaduct's owners are priced at NZ15 cents apiece, a 14 percent discount to Smartpay's NZ17.5 cents trading price. The acquisition, which is valued at 31 percent of Smartpay's market capitalisation, will be put to shareholders in January."Our emphasis in the New Zealand market is to strongly grow our eftpos position and to deliver innovative and competitive services via an established retail footprint," Smartpay managing director Bradley Gerdis said. The company would also look beyond the New Zealand market.The deal means Smartpay has to delay its secondary listing on the Australian Stock Exchange, which was originally planned for this calendar year. The company now expects to list across the Tasman in the second quarter of 2013.Viaduct founders and majority shareholders Marty Pomeroy and Mark Unwin will join Smartpay in senior executive roles, and will each be entitled to long-term incentive bonuses of two million options to subscribe to shares at 20 cents apiece, exercisable from 2016, and a further two million options to subscribe at 30 cents a share exercisable from 2018.The acquisition is expected to contribute annual revenue of some NZ$6 million and NZ$3 million in earnings before interest, tax, depreciation and amortisation.Last month, Smartpay said it had annualised sales of NZ$17 million and earnings before interest, tax, depreciation and amortisation of NZ$7.4 million after the first half of the 2013 financial year.