Brussels-based Ogone, an online payment company, has purchased Tunz.com as a means of expanding its services across Europe. Terms of the deal were not disclosed.
By acquiring Tunz.com, Ogone can capitalize on the company’s license as an accredited institution for electronic money. The target, also in Brussels, is European e-money issuer that offers a mobile wallet service that allows customers to use their mobile phone as a means of payment.
The deal underscores the global trend of making payments via mobile technology, and has resulted in an uptick of dealmaking within the space so financial advisers can catch up.
For more on this topic, see “The Buyside: Global Payments Signs Deal in Midst of Growing Competition.”