NZ mobile specialist acquired
New Zealand mobile payments specialist M-Com is to be acquired by US firm Fiserv.
M-Com has been a Fiserv partner since 2008. The two companiesworked together on developing Mobile Money, a Fiserv application for financial institutions.
M-Com CEO Adam Clark and all employees of M-Com will join Fiserv.
A statement from Fiserv annuoncuing the buy reads: "Fiserv will have the ability to integrate M-Com mobile banking and payment technology into current product offerings, as well as leverage that technology for transformative new solutions.
"Current M-Com clients will benefit from Fiserv's digital banking and payments expertise, deep resources and ongoing investments in mobile financial services.
M-Com won last year's Tuanz Telecommunications Innovation Award.
The financial terms of the acquisition weren't disclosed.