Mergers and Acquistions News
Categories: Telecoms
January 22nd 2009, 17:10PM
Sybase has announced the acquisition of mobile payments firm Paybox.
Marty Beard, the president of Sybase, says the purchase enables his firm to extend its mobile infrastructure into payments.
The company will now be able to offer telecoms providers a full range of services, so that its customers can make a variety of payments using their mobile phones.
Paybox will also bring to Sybase a "proven track record and a solid customer base".
The deal was sealed quietly last year for an undisclosed fee; Sybase says the acquisition will not impact on its financial prospects in 2009.
Mr Beard describes mobile payments as "an increasingly critical" component of the firm’s business strategy.
He says the prevalence of mobile phones across the world means "the mobile device has the potential to become a dominant vehicle for consumers to connect and transact conveniently, anytime, anywhere, fueling the mobile economy".
Sybase was founded by Mark Hoffman and Bob Epstein in 1984.
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