Google acquires technology from Softcard (mobile payments)

Companies in Relationship

Google, Softcard

Deal Facts

Initial Announcement Date: 2/15

Consideration: not disclosed

Google acquires key intellectual property from Softcard towards the end of moving forward its Google Wallet initiative. Softcard is a joint venture formed between AT&T,T-Mobile, and Verizon to develop mobile payments technology.

Strategic Implications

AT&T,T-Mobile, and Verizon will install Google Wallet on the phones they sell, thereby making Google Wallet a stronger challenger to Apple Pay.

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