Qpass Strengthens Commitment to the European Digital Marketplace and Simpay
Qpass, whose software powers the marketplace for digital media and services, today announced the acquisition of the Encorus mobile payments software business, which includes the PaymentWorks product line. The acquisition furthers the company's global expansion and strengthens its position as the vendor of choice for digital payment software in the European mobile market. The acquisition further demonstrates Qpass' support of Simpay, the consumer m-payment scheme formed by Orange, Telefonica Moviles, T-Mobile and Vodafone.
"Encorus has engineered world-class Simpay technology, and we are pleased to be in a position to deepen our Service Management Platform and Payment Server product line with this strategic asset," said Chase Franklin, CEO, Qpass. "This acquisition demonstrates our commitment to providing mobile operators with the most advanced and proven Simpay solution."
"We are constantly reviewing the needs of our business and make adjustments as needed to successfully execute our long-term growth strategies," said Nandita Bakhshi, president, Encorus Technologies. "Qpass was an obvious strategic fit for our mobile software business."
Qpass has acquired the Encorus PaymentWorks intellectual property as well as the Encorus name and other assets. Qpass will assume the customer relationships of the Encorus' PaymentWorks software business including its relationship with T-Mobile International. The Encorus software team of employees in Stuttgart and Budapest will become part of the Qpass Europe team and continue to provide continuity and enhance the PaymentsWorks technology. Encorus is part of eONE Global, a majority-owned subsidiary of First Data Corporation. As part of the transaction Qpass and FDC have agreed to co-market and coordinate with one another as preferred providers of each company's respective solutions. Additional terms of the deal were not disclosed.
With this acquisition, Qpass grows to approximately 250 full-time employees, serving more than 27 customers, including 16 mobile operators in North America and Europe, which together have more than 140 million mobile subscribers.