Stakool to Purchase LinQpay

Stakool Inc., a mobile payment services company, will acquire LinQpay, a similar company.

Terms were not disclosed.

The transaction is expected to close in late July.

Under the transaction, LinQpay CEO James Byler becomes CEO of Stakool and will join its board of directors.

“This is an investment in growth,” said Byler, in a statement. “The acquisition gives Stakool Inc. a solid footprint both in the rapidly expanding mobile payment and e-commerce payment segments. We believe the combination creates a unique opportunity to allow us to better serve the industry.”