Stakool Acquires LinQpay
June 17, 2010
Stakool, Inc., a California-based mobile payment services company, announced an agreement to acquire LinQpay, Inc. and its flagship products Mobile LinQ and Global LinQ. Mobile LinQ leverages standard wireless phones enabling merchants to process secure payments and deliver user friendly real-time data. Global LinQ enables e-commerce merchants a single point of connection for global payment methods and multi-currency transactions. The acquisition will enable Stakool to provide leading payment solutions to all segments of the e-commerce and m-commerce industries, according to a press release. “The acquisition gives Stakool, Inc. a solid footprint both in the rapidly expanding mobile payment and e-commerce payment segments,” said James Byler, LinQpay CEO. “We believe the combination creates a unique opportunity to allow us to better serve the industry and positions Stakool, Inc. for future growth and new business opportunities.” Terms of the deal were not disclosed. The agreement is subject to approvals by the boards of directors of both Stakool, Inc. and LinQpay. The transaction is expected to close in late July 2010.