The week is kicking off with an M&A bang. Neomobile, a mobile media company, on Monday announced the acquisition of Onebip, a mobile payments service provider for game publishers, social networks, and Internet merchants. The terms of the deal were not disclosed, but the acquisition is expected to make Neomobile one of the top three mobile commerce players in Europe.
Founded in 2005, Onebip mirrors the swarms of other mobile payment solution providers out there in that it allows users to pay for goods online using their mobile phone instead of paying directly with a credit card or bank account. Users simply create a Onebip account and they have the ability to pay with their phone credit, transfer money to their PayPal accounts, or even withdraw funds directly from their Onebip account to be transferred to their bank account as cash.
Onebip has offices in the UK, Serbia, and Italy, and the service currently has over two million registered users.
“The industry is undergoing dramatic transformation,” said Onebip co-founder Marko Maras in a prepared statement. “Joining Neomobile is the ideal opportunity for us to push forward our goals to lead in the mobile payment evolution on a faster and much larger scale.
The acquisition will complement Neomobile's current offerings in the areas of mobile commerce, mobile entertainment, and mobile marketing. Launched in 2004, Neomobile works with mobile carriers around the world to deliver digital content to mobile phones. The company's clients include CocaCola, Mentos, Nokia, Motorola, and more.
“We wanted this deal and we have worked hard over the past year to make it happen because we see a terrific synergy in merging the two companies and their key assets," said Neomobile CEO Gianluca D'Agostino in a statement. "Onebip founders have made a great work so far in developing such a solution suite, merchant portfolio and global brand."
Image source: onebip.com