News

GE Capital invests in Mosaic

February 6, 2002

LONDON - GE Capital acquired a stake in Mosaic Software, a provider of electronic funds transfer (EFT) software with a presence in 20 countries.

The private equity arm of General Electric Co. put up $8 million for an undisclosed share of the international firm. Another primary investor is Comparex Holdings, a South African technology firm.

Mosaic, which has offices in the U.S., United Kingdom, Australia and South Africa, will use the new funds to "accelerate its growth, particularly in terms of its sales and marketing reach," according to Mosaic executive chairman Johann Dreyer.

Mosaic software is used to process high volume consumer transactions at ATMs, Point-of-Sale devices, wireless and Internet platforms.