Google Rumored in Talks to Acquire Softcard
Jan. 19, 2015
According to a widely cited report, Google is now in talks to acquire Softcard, the beleaguered mobile-wallet provider that laid off 60 employees last week . Various reports have indicated Google will pay anywhere from $50 to $100 million for the joint venture owned by major U.S. wireless carriers Verizon, AT&T and T-Mobile. The company has been the subject of takeover rumors in the past, but as Softcard continues to experience problems, and the hype surrounding mobile payments surges with the introduction of Apple Pay, the latest rumors are the strongest yet.
After a ballyhooed pilot test in two cities, Softcard faced a series of delays rolling its solution out nationwide. And, while many of its problems may have been self inflicted, the company also was beset by bad luck. It was forced to rebrand in September when the terrorist group bearing its original name—Isis—rose to prominence.
Neither Google nor Softcard (or any of its carrier owners) have issued a public comment.