Payvia, a mobile and online payments company that allows consumers to pay via their mobile phone through direct carrier billing, has acquiredMogreet, a company that specializes in mobile video, text and rich media messaging engagement solutions.
Financial terms of the acquisition were not disclosed.
Payvia argues that the purchase of Mogreet will allow it to create an end-to-end solution that marries mobile payments, user targeting and mobile marketing at scale, on a directly-connected carrier platform.
Payvia will integrate Mogreet’s cloud-based video and rich messaging technology into its mobile payments platform.
The company’s CEO, Darcy Wedd, said in a statement:
“Our mobile payments offer resonates strongly with the market because it is built on our proprietary carrier connected technology that gives us a unique ability to understand consumer mobile usage.
Our clients have told us they also need a simpler way to link targeted mobile transactions to their marketing campaigns. By integrating Mogreet’s solutions on our platform we answer that need.”
Payvia says it operates engages with 120 million mobile users to process billions of mobile messages on an annual basis. The company also asserts that it has paid out more than $2 billion in global mobile commerce revenues to merchants and developers worldwide.
Mogreet’s mobile marketing solutions are, in turn, said to be used by “thousands of marketers, retailers, small businesses and developers” including brands like Cox Media Group and Gamefly.
The full Mogreet team will join payvia, with Mogreet founder and CEO James Citron serving as payvia’s CMO.
Founded in 2006, Mogreet was backed by $14 million from DFJ Frontier, Ascend Venture Group, Black Diamond Ventures and Spyglass Ventures, among others.
Payvia, meanwhile, is part of the m-Qube group of companies and has raised funding from investors such as Silver Lake Sumeru, Montgomery & Co, and Trinity Ventures.
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