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News
Issue #2001 - 36
(September 2001)
(Updated
Sept. 5, 2001)
ACQUISITIONS,
MERGERS & AGREEMENTS
eONE Acquires Brokat Technologies to
Pursue M-Payment Market
E-payment company eONE Global has
acquired the m-business division of Brokat Technologies, a German
wireless software company, in a move to establish its new m-commerce
unit. eONE reportedly paid $43.9-million and expects the acquisition
to be completed by November.
Formed last fall by First Data Corp.,
eONE has three main areas of operation: govONE Solutions, focused on
delivering electronic payment solutions to governments; SurePay,
which creates trusted electronic business payment services, and
m-commerce to capture and commercialize the e-payment technologies.
It is the latter area that Brokat’s payment software, PaymentWorks,
will form the basis of eONE’s mission to develop m-payment systems
for use worldwide. The company plans to target the European market
first.
"This new eONE Global operating
company will leverage Brokat's technology and the assets and
customer base of eONE Global's majority owner, First Data Corp.,
says Garen Staglin, president and CEO of eONE Global, adding that
"the open architecture of Brokat’s mobile payment software
will ultimately allow consumers to quickly and economically adopt a
global mobile payment solution."
Brokat’s payment software,
PaymentWorks, uses open standards and enables mobile operators to
offer their customers secure, user-friendly m- payment services.
Customers simply store their personal details in a virtual wallet
and use the wallet to pay for goods and services via their mobile
phone. The PaymentWorks solution can handle millions of users and
volume transactions while providing authentication and authorization
services.
For more information: http://www.eoneglobal.com/news.html
Mobileinfo Comments and Advisory: This
is a good acquisition and will ensure that Brokat solution will have
the capital fuel it needs to continue its operation.
Note: This news release may contain
forward-looking statements. Readers should take appropriate caution in
developing plans utilizing these products, services and technology
architectures. All trademarks used in this summary are
the property of their respective owners.
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