Google mulls acquisition of Softcard - report

News Wireless United States 19 JAN 2015
Google mulls acquisition of Softcard - report

Google is in talks with Softcard, a payment technology consortium backed by Verizon Wireless, AT&T and T-Mobile, for a price estimated at under USD 100 million, TechCrunch reported, citing sources familiar with the situation. Softcard was launched in 2010 under the name of Isis.

The joint venture laid off around 60 employees earlier this month and is trying to restructure. Google is reportedly interested in Softcard patents and applications for patents. The joint venture has just over 120 in all. There are also existing relationships with carriers. Google declined to comment.

Categories:

Mobile

Companies:

T-Mobile,  Verizon Wireless,  Google,  Verizon

Countries:

United States

Tags:

e-Payment, Corporate strategy, M&A buyouts & divestments

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