Sybase Inc. has acquired Paybox solutions AG, mobile payment systems provider.
Terms were not disclosed.
A privately held company headquartered in Raunheim, Germany, Paybox will be integrated into Sybase 365, a wholly-owned subsidiary of Sybase Inc.
With this acquisition, Sybase expects to provide mobile operators, financial institutions and merchants with a full suite of mobile payment solutions enabling their customers to undertake person-to-person remittances, make payments for goods and services, top-up mobile airtime and pay bills from a mobile device, in both developed and emerging markets.
"Mobile payments are an increasingly critical part of mobile computing, a core component of our Unwired Enterprise strategy,” said Marty Beard, president of Sybase 365, in a statement. “The sheer number of people with access to a mobile phone in both developed and emerging markets around 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. This acquisition extends our offerings and capabilities to enable this mobile economy.”
