Ingo Money, which specializes in digitizing check payments, has entered an agreement to buy Salt Lake City-based Fuze Network, which handles cash loads for credit, debit and prepaid accounts.
Ingo, of Roswell, Ga., already provides mobile check-to-card services. The acquisition will add Fuze's cash-to-card function, plus other networked services, to Ingo's offerings.
"The combination of Ingo Money and Fuze technologies will accelerate our mission to digitize the cash economy by enabling consumers to use their mobile phones to convert any check or cash into electronic Good Funds and to push it virtually anywhere," said Drew Edwards, founder and CEO of Ingo Money, in a Nov. 3 press release.
Financial terms of the acquisition were not disclosed. The companies expect the deal to close by the end of December.