Tanla, an Indian provider of mobile software and services, has acquired 85 percent of Openbit, a Finnish provider of mobile payment software and services, for US$15.8 million, in an all-cash deal.
The remaining 15 percent Openbits equity, currently held by the management, will be purchased by Tanla in two stages of 5 and 10 percent after the first and second year, respectively, the company said on Thursday.
Tanla, which currently offers its products and services in markets including the U.K., Ireland, Dubai, and Singapore, expects that the acquisition will give the company access to Openbits relationships with leading mobile phone makers, and some 90 mobile operators in 30 countries, said Rohit Midha, head of corporate affairs at Tanla in Hyderabad.
The acquisition also gives Tanla access to Openbits License Manager, Midha said. License Manager is a client-server application, targeted at wireless software application vendors and content distributors, that integrates on-device payment and digital rights management.
Tanla currently offers services in the area of mobile entertainment, mobile marketing and advertising, mobile payments, and interactive TV, Midha said. By integrating Openbits technology into its own services platform, the company will be better positioned in the mobile payments market, he added.
As users start buying more smartphones rather than plain voice phones, there are opportunities for new applications, particularly in mobile payments, Midha said.
The remaining 15 percent Openbits equity, currently held by the management, will be purchased by Tanla in two stages of 5 and 10 percent after the first and second year, respectively, the company said on Thursday.
Tanla, which currently offers its products and services in markets including the U.K., Ireland, Dubai, and Singapore, expects that the acquisition will give the company access to Openbits relationships with leading mobile phone makers, and some 90 mobile operators in 30 countries, said Rohit Midha, head of corporate affairs at Tanla in Hyderabad.
The acquisition also gives Tanla access to Openbits License Manager, Midha said. License Manager is a client-server application, targeted at wireless software application vendors and content distributors, that integrates on-device payment and digital rights management.
Tanla currently offers services in the area of mobile entertainment, mobile marketing and advertising, mobile payments, and interactive TV, Midha said. By integrating Openbits technology into its own services platform, the company will be better positioned in the mobile payments market, he added.
As users start buying more smartphones rather than plain voice phones, there are opportunities for new applications, particularly in mobile payments, Midha said.
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