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[November 21, 2001]
eONE Global Finalizes Acquisition Of The Mobile
Business Unit Of Brokat Technologies
eONE Global, LP, an
innovator in identifying and developing emerging payment technologies,
has completed its acquisition of the assets that comprised the
M-Business division of Brokat
Technologies (NASDAQ:BROA). eONE Global's newest operating unit, Encorus
Technologies, will focus on driving the acceptance and usage of
mobile payments worldwide.
The assets of the acquisition provide the foundation for Encorus
Technologies GmbH (Encorus-Germany), located in Stuttgart, which
provides flexible and open mobile payments software and infrastructure
for Encorus' processing services business. Encorus Technologies Limited,
which will base executives and primary operations in Ireland, offers
efficient payment processing services to customers worldwide. Most of
the existing management of the M-business unit team will join Encorus-Germany
in their current roles and report to eONE Global Managing Director John
Duncan.
"Encorus-Germany is poised to play a significant role in the
next generation of payment innovation -- secure, standard and simple
mobile payments via any type of mobile device -- from cell phones to
Palm devices," said Duncan. "Encorus-Germany's solutions
provide merchants, carriers and consumers with universal, convenient and
instant mobile transaction payment processing services available to
anyone, anywhere, at any time. The addition of Encorus as eONE Global's
third operating unit positions us to take full advantage of the
migration to mobile payments."
"We're very excited to be part of the eONE Global family,"
stated Stephan Kruppa, executive vice president of Encorus-Germany.
"We now have a more complete value proposition by combining our
leading mobile payment software with eONE Global's superior processing
capabilities. This is indeed an exciting new step in building a
community of mobile operators and merchants powerfully connected through
a global standard for mobile purchasing."
Encorus will initially focus on facilitating digital content
micropayments (smaller transactions of less than one US dollar or one
euro), and secure Internet macropayments with debit or credit cards,
expanding into person-to-person payments and point-of-sale macropayments.
Implementations have begun in Europe, and will then move into Asia and
the United States. By 2005, the Tower Group expects the number of mobile
payment users in Europe and Asia to exceed 54 million.
Among the assets acquired in this transaction is Brokat's secure,
convenient and flexible PaymentWorks product family. Encorus'
PaymentWorks software solution uses open standards and enables mobile
operators to offer customers secure, easy-to-use mobile payment
services. Easy to implement, PaymentWorks handles both micropayments and
macropayments, and provides authentication and authorization services.
Beyond those mobile payment capabilities, Encorus will be extending
its software business into a broader payments processing platform. As an
operating company of eONE Global, which is majority owned by First Data
Corp. (NYSE: FDC) , Encorus benefits from First Data's global processing
scale and infrastructure as well as extensive distribution channels: 2.6
million merchant locations, 1,400 financial institutions and other card
issuers and millions of consumers. First Data also owns Western Union, a
money transfer network with 117,000 agent locations in more than 185
countries and territories. By leveraging First Data's scale and assets,
Encorus has tremendous opportunity in point-of-sale payments and will
also focus on efforts to establish direct routing and settlement for
these transactions.
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