Developer giant Qualcomm announced it will acquire mobile banking enabler Firethorn Holdings for approximately $210 million in cash. The deal is expected to close within 30 days. According to Qualcomm, Firethorn's financial industry expertise and mobile operator partnerships supports its broader strategy to deliver end-to-end wireless services that drive mobile data adoption: "The combination of Firethorn's mobile banking experience and market recognition with Qualcomm's technology strength, global reach and operator relationships make this an extremely powerful development in the world of m-commerce," said Qualcomm executive VP and group president Len Lauer, who will oversee the Firethorn team in cooperation with Firethorn CEO Tripp Rackley.
On Tuesday, AT&T announced Firethorn will power the operator's nationwide mobile banking service. Firethorn also boasts an m-banking deal with Verizon Wireless.
For more on the Qualcomm/Firethorn deal:
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