Mozido acquires Georgia mobile payments company

Dec 19, 2014
Austin Business Journal

Mozido Inc., a mobile payment specialist, has bought a majority stake in an Atlanta-based mobile payments and commerce company

Austin-based Mozido acquired a majority ownership of CorFire, a mobile commerce business of SKC&C, which is a technology division of the South Korea-based SK Group. Financial terms of the 

deal were not disclosed, the company said Thursday in a statement

SKC&C USA was established in late 2008 or early 2009 and re-branded as CorFire in 2010. The acquisition is expected to enable Mozido to power the mobile wallet application for Dunkin' 

Brands and reach 2 billion users through partnerships with six of the top-20 mobile network operators, officials said Thursday

Mozido develops cloud-based mobile payment systems and marketing software. In 2012, the company relocated to Austin from Dallas after it acquired Cedar Park-based PagoVision Inc. Mozido 

employs 250 workers with 70 of them based in Central Texas

In October, Mozido completed the first portion of a planned $400 million Series B round of funding. The company said it collected $185 million to fund strategic acquisitions to grow its 

network. Investors included MasterCard, Boston-based Wellington Management Co., H.R.H. Sheikh Nahyan, and Julian Robertson Jr., CEO of New York-based Tiger Management LLC

The financing increased to $395 million the amount of investment capital the company collected since launching in 2008

In March, Mozido bought customer loyalty software maker StickyStreet Inc., a New York company that claimed customers such as Toys-R-Us Inc., Harley-Davidson Inc. (NYSE: HOG) and Best 

Western International Inc. Financial terms of the deal were not disclosed

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