Monitise, mobile money solutions provider, has announced it has bought a Turkish mobile technology specialist Pozitron.
Pozitron, which describes itself as ‘money innovator’, delivers mobile banking, payments and ecommerce solutions in Turkey and across the Middle East. The company was founded in 2000, initially as a software development company, and in 2005 it evolved in a mobile technology company. At present it hires around 130 people and provides mobile money solutions for more than 30 leading enterprises in Turkey across banking, telecoms, retails and pharmaceuticals, as its says.
Through the acquisition both companies would offer a joint assistance to banking and telecom organisations as well as retailers to help them create interoperable mobile money services.
"This acquisition of Pozitron further reinforces our leading position as a global technology enabler at the heart of the Mobile Money ecosystem. It comes at a time when we are seeing increasing demand for interoperable Mobile Money services as payments become more digital by the day, not only in Turkey, Europe and the Middle East but also around the world,” says Monitise Group Chief Executive Alastair Lukies.
The Pozitron business, which has been led by Chief Executive and Turkish entrepreneur Fatih I becer, will report into Peter Radcliffe, President, International, Monitise.
Also, the entire issued share capital of Pozitron has been acquired via an all share deal.