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    Acquisition

    News about Acquisition.

    AMS sells NFC and RFID reader business to STMicroelectronics

    July 29th, 2016

    PARTNER NEWS: Chip maker AMS has sold its NFC and RFID reader product lines to STMicroelectronics. AMS will continue to retain ownership of its NFC/RFID tag business, including the AS3955 NFC interface chip (NFiC) which AMS unveiled in May 2015. More

    Mastercard takes majority stake in VocaLink

    July 21st, 2016

    Mastercard has entered into a definitive agreement to acquire 92.4% of UK payments infrastructure operator VocaLink for approximately £700m (US$920m). “Under the agreement, a majority of VocaLink’s shareholders will retain 7.6% ownership for at least three years,” Mastercard says. “This acquisition accelerates Mastercard’s efforts to be an active participant in all types of electronic payments and payment flows and to enhance its services for the benefit of customers and partners.”

    Seamless buys MeaWallet

    July 13th, 2016

    Swedish mobile payment specialist Seamless has acquired third party mobile wallet provider MeaWallet. “The purchase price amounts to approximately SEK 42.8m (US$5.03m) and payment is made through an issue in kind of 4,574,328 new shares in Seamless,” Seamless says. “Through the acquisition, Seamless controls important technology in the rapidly growing field of contactless payments.”

    Visa seals deal on Visa Europe acquisition

    June 21st, 2016

    Visa has completed its acquisition of Visa Europe. “The combined, global company provides digital payment products, services and processing to about 17,100 financial institution clients and partners, more than 40m merchant outlets and 3bn Visa accounts worldwide,” the payment network says. “Visa-branded cards and payment products enable approximately US$6.8trn in global payments volume annually.”

    European Commission approves Visa’s acquisition of Visa Europe

    June 3rd, 2016

    The European Commission has approved the proposed acquisition of Visa Europe by Visa. “Visa has now received all regulatory approvals required for the acquisition,” Visa says. “The transaction has already been cleared by both the Jersey and the Turkish competition authorities. The transaction is expected to close in Visa Inc’s fiscal third quarter of 2016. Visa will announce the closing once it has occurred.”

    Fitbit buys Coin’s wearable payment assets

    May 19th, 2016

    Fitness wristband maker Fitbit has acquired the wearable payment assets of connected device maker Coin in a move that will enable the company to add NFC payment capability to its future devices. More

    Visa amends financial details of Visa Europe acquisition

    April 25th, 2016

    Visa has reached a preliminary agreement to amend the transaction details of its Visa Europe acquisition in response to feedback from the European Commission. “Instead of an earn-out, the cash consideration payable in the transaction will be increased by €1.75 billion — €750m payable upon closing and €1bn, plus 4% compound annual interest, payable on the third anniversary of closing,” Visa says.

    Ingenico buys Think&Go

    April 11th, 2016

    POS terminal maker Ingenico has acquired NFC specialist Think&Go. “Think&Go has developed a technology that enables any kind of digital display to interact with connected objects such as smartphones and transit passes,” Ingenico says. “By drawing on Ingenico Group’s global network and R&D capabilities, Think&Go can now grow its business faster and achieve a twenty-fold increase in the number of screens deployed within three years.”

    PowaTag sold to investors

    March 7th, 2016

    Mobile payments platform PowaTag has been sold to a consortium led by entrepreneur Ben White, administrator Deloitte has confirmed, following news that its parent company Powa Technologies went into administration last month. The company’s ecommerce platform PowaWeb has also been sold to UK-based digital business group Greenlight Digital. The Financial Times reports that the sales were for “undisclosed amounts” and questions the “typically used” valuation of Powa Technologies at US$2.7bn.

    Bell ID acquired by chip maker Rambus’ digital security division

    January 26th, 2016

    PARTNER NEWS: Tokenization and mobile payments specialist Bell ID has been acquired by chip maker Rambus. Bell ID will form part of Rambus’ Cryptography Research division, which specialises in embedded security solutions including tamper resistance,… More

    NanoPay acquires Mintchip digital currency

    January 12th, 2016

    Mintchip, the digital currency developed and field tested in an NFC payments pilot by The Royal Canadian Mint, has been acquired by Loyalty Pays Holdings Corporation, a subsidiary of NanoPay. “NanoPay is now focused on expanding partnerships with central banks, commercial banks, telcos, acquirers, retailers as well as developers and POS providers that will further expand the utility and acceptance of MintChip,” the loyalty and payments platform provider says.

    Alipay parent seeks $1.5bn investment

    January 7th, 2016

    Alibaba affiliate Ant Financial, owner of mobile payment platform Alipay, is seeking an investment of at least 10bn yuan (US$1.5bn) ahead of a planned initial public offering, Bloomberg reports. “Ant Financial may use money from the current fundraising for acquisitions,” the publication says. Ant Financial made a strategic investment in Indian mobile payment platform Paytm in September 2015 after closing a Series A financing round that valued Ant Financial at more than US$45bn.

    Orange to launch its own bank

    January 6th, 2016

    Mobile network operator Orange has entered into negotiations to acquire a 65% stake in France’s Groupama Banque with a view to launching a 100% mobile bank. “The launch of Orange Bank is planned for early 2017 in France and on other European markets like Spain and Belgium,” Groupama Banque says. “Services cover daily banking, savings, loans and insurance.”

    Morpho acquires AirTag

    December 9th, 2015

    ID technology specialist Morpho has acquired mobile payment solutions provider AirTag for an undisclosed sum. “AirTag develops secure mobile transaction solutions; the company developed AirPass, a virtual bank card solution using host card emulation (HCE) technology and based on a proprietary tokenization platform,” Morpho says. “By combining their areas of expertise, the two companies will be able to manage the multiple security aspects involved in mobile payments.”

    Visa to acquire Visa Europe

    November 3rd, 2015

    Visa has confirmed it is to acquire Visa Europe for an upfront consideration of €16.5bn with a potential additional earn-out of up to €4.7bn. “The transaction is subject to regulatory approvals and is expected to close in Visa Inc’s fiscal third quarter of 2016,” Visa says.

    SpareBank 1 acquires mCash for mobile payments

    October 19th, 2015

    Norway’s SpareBank 1 has acquired mobile payments provider mCash for an undisclosed sum. “With this acquisition, we strengthen our mobile efforts and are well positioned to meet future digital customer needs,” says the bank’s chairman Jan-Frode Janson. mCash lets users make in-store payments via QR codes, transfer funds and make online payments. It has more than 100,000 users and has signed up 600 stores.

    Velocity Mobile picks up Tab

    October 16th, 2015

    Restaurant payment app provider Velocity Mobile has acquired Tab Payments, a mobile payments app for diners in Canada accepted at more than 100 restaurants in Toronto and Montreal. “The acquisition further expands Velocity’s reach, which now connects premier restaurants with global diners in six major cities in the US, UK and Canada,” Velocity Mobile says. Terms of the transaction have not been disclosed.

    Velocity acquires mobile payments app Cover

    September 29th, 2015

    Restaurant payment app Velocity has acquired mobile payments solution Cover for an undisclosed sum. Cover is accepted at more than 350 restaurants in New York, San Francisco and Los Angeles. “The acquisition will accelerate the expansion of Velocity’s global hospitality platform, which connects premier restaurants with affluent diners, empowers them to settle their bill directly from their phone and builds loyalty through tailored status and rewards programs,” Velocity says.

    PayPal buys money transfer provider Xoom

    July 2nd, 2015

    PayPal has bought digital money transfer provider Xoom for about US$890m. “Xoom is a leader in international remittances, enabling customers in the US to send money to, and pay bills for, family and friends around the world in a secure, fast and cost-effective way using their mobile phones, tablets or computers,” PayPal says.

    Google to acquire Tesco’s Clubcard division?

    June 22nd, 2015

    Google is reported to be considering acquiring the Tesco-owned loyalty agency that is responsible for the development of the supermarket giant’s Clubcard rewards scheme. “Google would like to use Dunnhumby to offer more reward and loyalty bonuses for Android Pay users,” IT Pro Portal reports. “Acquiring Clubcard may allow Google more insider knowledge as to the workings of the UK market.”

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