News
Sybase purchases paybox Solutions, broadens mobile payment offerings
January 22, 2009
LONDON — Sybase Inc., the largest enterprise software and services company exclusively focused on managing and mobilizing information, has announced that it has acquired paybox Solutions AG, a global provider of mobile payment solutions. According to a news release, Sybase hopes this acquisition bolsters its Unwired Enterprise strategy by extending its leading mobile infrastructure to mobile payments.
Sybase will now provide mobile operators, financial institutions and merchants with a full suite of mobile payment solutions enabling their customers to undertake person-to-person remittances, make payments for goods and services, top-up mobile airtime and pay bills from a mobile device, in both developed and emerging markets.
"Mobile payments are an increasingly critical part of mobile computing, a core component of our Unwired Enterprise strategy," said Marty Beard, president of Sybase 365. "The sheer number of people with access to a mobile phone in both developed and emerging markets around the world, means the mobile device has the potential to become a dominant vehicle for consumers to connect and transact conveniently, anytime, anywhere, fuelling the mobile economy. This acquisition extends our offerings and capabilities to enable this mobile economy."
A privately held company founded in 1999 and headquartered in Raunheim, Germany, paybox will be integrated into Sybase 365, a wholly owned subsidiary of Sybase, Inc. As a provider of the broadest mobile commerce offering, paybox also brings Sybase a proven track record and a solid customer base.
"This acquisition is a natural progression of the partnership agreement signed between the two companies in Q4 last year. Paybox and Sybase share the same vision for mobile commerce that is in line with where the market is headed and what customers are demanding from their mobile phones," said Eckhard Ortwein, chief executive of paybox. "By combining mobile messaging and mobile payments offerings, it will be difficult for any competitor to match our mobile commerce services."
Sybase does not expect this acquisition to have a material impact on 2009 financial results.
Click here to watch a video of Marty Beard, Sybase 365 president, discuss this acquisition.
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