Sybase Inc. purchases Paybox payment processor

Today Dublin-based Sybase Inc. has announced the acquisition of Germany-based micro-processing company Paybox AG, completed on December 30, 2008.The terms of the contract were not disclosed however according to Sybase officials the amount wasn’t too large. Paybox AG is not a big company which serves 20,000 merchants and covers 15 million mobile phone subscribers in Europe, North and South America, Africa, the Middle East, and Asia.

According to Sybase the acquisition is of strategic importance and since it allows Sybase to expand globally using Paybox’s existing mobile infrastructure. It was announced that Sybase will license and maintain the Paybox technology to wireless operators and financial institutions and also charge a fee for each transaction. 

“This agreement is a natural progression of where the market is headed and what customers are demanding from their mobile phones,” commented Eckhard Ortwein, CEO of Paybox.