Sybase buys m-commerce company

Sybase Inc. is looking to expand its m-commerce business with the acquisition of Germany’s paybox solutions AG for an undisclosed sum.
Paybox was founded 10 years ago and has gained traction in markets including Germany and Austria, where it spearheaded an effort to create operator-led, national mobile payment standards. Sybase, one of the largest providers of software and services for businesses, said paybox will be integrated into Sybase 365, a subsidiary that offers m-commerce solutions to financial institutions.
The acquisition builds on a partnership the companies forged late last year and is part of Sybase’s strategy to extend its wireless infrastructure to transactions.
“Paybox and sybase share the same vision for mobile commerce that is in line with where the market is headed and what customers are demanding from their mobile phones,” paybox CEO Eckhard Ortwein said in a prepared statement. “By combining mobile messaging and mobile payments offerings, it will be difficult for any competitor to match our mobile commerce services.”
Shares of Sybase inched upward less than 2% following the announcement to $24.36.