27 November 2015

Oberthur to buy mobile money firm MoreMagic

28 February 2012  |  4752 views  |  0 handshake

Oberthur Technologies has entered exclusive negotiations to buy US mobile money specialist MoreMagic Solutions. Financial details have not been disclosed but MoreMagic's major shareholders, including Battery Ventures and Vision Capital, are backing the deal.

MoreMagic claims deployments of its mobile payments technology in more than 30 countries around the world, working with companies such as Barclays, Citi, Orange and Telenor. Oberthur has been building its own presence in the mobile area and recently partnered MoreMagic to win a contract in the Czech Republic.

Xavier Drilhon, CEO, Oberthur, says: "The acquisition of MoreMagic is fully in line with our growth strategy notably in our Solutions business and more specifically in the NFC eco-system. The complementarities between our respective technological bricks and Oberthur Technologies' TSM expertise will perfectly fit the needs of our clients, in both mature and developing countries."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

05 August, 2011
24 January, 2011
16 April, 2010
15 January, 2010
18 November, 2009
18 September, 2009

Related company news


Top topics

Most viewed Most shared
Coinbase issues Bitcoin debit card
8323 views comments | 18 tweets | 21 linkedin
BBVA buys 29.5% stake in Atom for £45...
7647 views comments | 34 tweets | 41 linkedin
BNP Paribas to test contactless payment di...
5965 views comments | 17 tweets | 25 linkedin
UK banks propose merger of five trade asso...
5337 views comments | 7 tweets | 9 linkedin
Hilton confirms data breach
5236 views comments | 11 tweets | 17 linkedin

Featured job

Brussels (Belgium) or Paris (France)

Find your next job