LONDON: Boku Inc, a leading global mobile payment and mobile identity company, announced that it has successfully completed the acquisition the entire issued and to be issued share capital of Fortumo Holdings and its subsidiaries in a transaction valued at a maximum enterprise value of $41 million.
The Acquisition is a significant step in Boku’s global Direct Carrier Billing growth strategy, bringing together the two most profitable platforms in the DCB market with complementary capabilities and customer bases.
The Acquisition will cement the Group’s positioning as a leading mobile payment and mobile identity solutions company. Fortumo primarily focuses on providing mobile payment solutions to over 400 small-to-medium sized enterprises, but also services larger merchants including Google, Amazon and Tencent.
Boku Inc. is a leading global provider of mobile payment and mobile identity solutions. Boku’s technology platform, which is linked to more than 200 mobile wallets and network operators worldwide, verifies user identity, executes payments, and provisions new services, simplifying daily mobile interactions between consumers and digital organizations.
Boku’s technology platform is used in over 59 countries with over 815 million verified transactions in 2019, contributing $5 billion to the digital economy. Businesses that currently employ Boku’s platform to simplify sign-up, acquire new paying users and prevent fraud include global leaders such as Apple, Discover, Experian, Facebook, FIS, Fiserv, Google, Microsoft, Netflix, Paypal, Sony, Spotify and Western Union.
Boku Inc. was incorporated in 2008 and is headquartered in London, UK, with offices in various locations globally including in the US, Mumbai, Munich, Beijing, Paris, Sao Paulo, Singapore, Taipei, and Tokyo.