Under the purchase agreement, BitPass gains Yaga's technology platform, intellectual property and customer contracts, and the Yaga team will join BitPass. BitPass now offers an expanded solution for content sales, promotions and rewards that supports the full range of payment options, including stored value accounts, pay-as-you-go, subscriptions and payment aggregation.

Yaga's customers include United Media, Ziff Davis Media, Time Inc., and CanWest Global Communications Corp., Canada's leading international media company. These customers join BitPass' growing merchant base, which includes Microsoft, Disney and more than 3,000 enrolled content providers.

"We look forward to working with BitPass because they recognize the value of Yaga's platform in improving our flexibility in selling new forms of digital content, like streaming video and rich media," said Jason Erdahl, Operations Manager, Milwaukee Journal Sentinel.

"The combination of Yaga and BitPass will create a powerful offering to content providers that will lead the marketplace," said Vijay Vaidyanathan, CEO and CTO, Yaga. "I am very happy that we have been able to work with BitPass - an industry leader with great momentum, strong financial backing and seasoned management - to help our customers innovate for the future."

"The combination of Yaga and BitPass brings a world of new offerings to help our customers expand their efforts in monetizing their digital content," said Doug Knopper, CEO, BitPass. "We couldn't be happier with the positive momentum that we're seeing in the marketplace and with the leadership position that we have taken."