PayPal has purchased StackMob, which provides a development platform for mobile payments.
"While projects underway at PayPal have already accelerated our ability to deliver great products to our customers, we believe that with the addition of the talented team from StackMob, we’ll move even faster in creating, testing and deploying products that aim to transform payments for customers around the world," PayPal CTO James Barrese says in a Dec. 17 blog post.
PayPal and StackMob did not disclose financial terms of the acquisition. The company has $7.5 million in venture capital backing from Trinity Ventures, Harrison Metal Capital and Baseline Ventures.
PayPal, a unit of eBay, has aggressively sought to acquire talent in the past two years. It has also purchased Duff Research and Iron Pearl to bring on their employees. David Marcus, PayPal's president, came to the company from its 2011 purchase of Zong, a company that allowed consumers to charge purchases to their phone bills. The eBay unit is purchasing Braintree for $800 million to reshape the way it works with developers.
"By joining the PayPal team, we endeavor to maintain our focus on developers through PayPal and extend innovative mobile technologies that will let you access the rich capabilities of the PayPal global network," Ty Amell, StackMob's co-founder and CEO, says in a blog post. "We believe our work at PayPal will make it easier for you to create seamless payment solutions that span online, mobile, and in-store experiences."