Mergers and Acquistions News
Categories: IT Services & Consulting
July 19th 2011, 18:51PM
Ebay's recent takeover of mobile payments provider Zong Inc is set to result in an increase in merger and acquisitions (M&A) activity in the sector, according to an expert.
Earlier this month, the auction website purchased Zong for $240 million (£148.5 million) in cash and now major firms such as Google and American Express have been linked with making their own forays into the mobile payment market.
In an interview with Bloomberg, Richard Crone, the owner of mobile banking and payments provider Crone Consulting, claimed that large conglomerates will be looking to capitalise on the growing demand for mobile payments.
He told the news provider: "There're much more M&A and roll-ups to come in this space. You will see the activity happening before the end of the year."
The total value of mobile payments will reach $670 billion by 2015, compared to $240 billion in 2011, according to Juniper Research.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)