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Bango PLC - Cambridge-based mobile commerce company - Acquires global payments business of NTT DoCoMo for €4.0 million in cash.
The business, known as DoCoMo Digital provides payment services to app stores and digital merchants. The acquisition is expected to expand Bango's global partnerships, and add new telecom partners to the platform.
Bango will fund the acquisition through existing cash and operating activities.
In addition, Bango signs a platform agreement with NTT DoCoMo, for use of the Bango platform for payment processing in Japan. The agreement will also form material part of the revenue contribution from the acquisition.
‘The decision by NTT DoCoMo to transfer its global payments business to Bango is a major endorsement of our technology in the fast-growing digital economy. Through the Bango Platform, telcos can leverage the universal appeal of the world's biggest online brands and digital merchants can immediately reach new customers,’ says Chief Executive Officer Paul Larbey.
Current stock price: 187.00 pence, up 20% on Tuesday
12-month change: down 11%
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