Tanla Acquires $15.8 Million Stake In Finnish-based Openbit
By Tricia Duryee - Thu 05 Jun 2008 12:43 PM PST
Tanla, an Indian provider of mobile services, said it acquired an 85 percent stake in Openbit, a Finland-based mobile payment software company for $15.8 million in cash (Euro 12 Million)reports IDG via NetworkWorld. The remaining 15 percent of the company, currently held by Openbit’s management, will be purchased in two stages over the next two years, bringing the total to $18.6 million. Tanla currently uses Openbit’s products and services in the U.K., Ireland, Dubai, and Singapore, and expects the acquisition to give the company access to Openbit’s relationships with device makers and mobile operators. In addition, by integrating Openbit’s technology into its own services platform, the company will be able to expand past mobile entertainment, mobile marketing and advertising and interactive TV into the mobile payments market. Release.
Posted in: E-commerce, Payment Systems, Mergers & Acquisitions, Mobile
