Deutsche Telekom buys ClickandBuy
25 March 2010 | 8701 views | 0
Deutsche Telekom has agreed a deal to buy Internet payment service provider ClickandBuy. Financial terms were not disclosed.
The German telco has held a stake in ClickandBuy through its venture capital company T-Venture since 2006 and currently owns 20.2% of its shares.
Having received approval from supervisory bodies and the UK's FSA, the e-money firm will now become a wholly owned subsidiary of Deutsche Telekom.
Founded in 1999 in Cologne, ClickandBuy is now based in London. The firm's online payment technology is used by over 16000 e-merchants in more than 120 currencies worldwide.
Charles Fraenkl, CEO, ClickandBuy, says: "ClickandBuy is in an exceptionally good position and is very happy about the huge advantages this synergy contains regarding the realisation of its global strategic goals which will be made possible through the involvement of Deutsche Telekom."