QUINCY, Mass.-Pipeline Data Inc. Tuesday said it will acquire m-commerce provider World Products Inc. for as much as $2.5 million in cash and stock.
Pipeline, which provides integrated transaction processing services for major credit cards, said it will pay $200,000 in cash and issue 900,000 shares of its stock as well as signing a $525,000 promissory note for World Products, which does business under the name Aircharge. Pipeline may grant an additional 1 million shares based on performance incentives.
Aircharge provides software allowing credit-card processing and wireless check conversion on mobile phones. Pipeline said it will retain Aircharge’s management team, and the deal is expected to close by the end of September.
Shares of Pipeline edged up 2 cents Tuesday morning, trading at 95 cents per share on the over-the-counter Bulletin Board by mid-day.
