In its second-largest acquisition, Amazon buys the company for $970 million.
Fast growing mobile commerce platform provider ROAM Data receives investment from Ingenico, who upped its stake to a controlling interest to further accelerate ROAM’s growth and leadership in mCommerce
BOSTON--ROAM Data, the company behind a vast majority of the encrypted mobile card readers shipped in the past year and the leading mCommerce platform-as-a-service provider, announced today that Ingenico has invested in the company to further fuel its growth and to jointly offer its mCommerce solutions to payment service providers worldwide. With Ingenico’s cash infusion and strategic partnership, ROAM now has the backing of a billion euro company behind its innovative team of mCommerce experts to further strengthen its core competence and solutions to its customers.
“We are thrilled to have the trust and support of Ingenico’s team. Their recognized expertise in payments and global reach will greatly bolster our growth plans”
“We are thrilled to have the trust and support of Ingenico’s team. Their recognized expertise in payments and global reach will greatly bolster our growth plans,” said CEO of ROAM Data, Will Graylin. “This new investment will provide us the fuel to create even more mobile commerce innovations and to deliver the best solutions possible to partners and customers around the world.”
ROAM provides best of breed hardware, software and services, and is a recognized leader in mobile card acceptance solutions. There has been a lot of news recently with notable brand names entering the mobile card acceptance market with more, major players preparing to enter this year. Behind the scenes, ROAM Data has been quietly servicing many of these players with its innovative, often white labeled, solutions. ROAM solutions turn merchants’ smart phones and tablets into secure POS devices, and enable consumers to securely and conveniently buy goods and services inside of merchant’s mobile apps and mobile offers, thus helping merchants sell more, faster, and easier in the mobile era. While ROAM does not market directly to small merchants, its list of partners that do so include some the largest merchant service providers in the world including Global Payments, Sage Payment Systems, Vantiv, North American Bancard, Total Merchant Services, First Data, Chase Paymentech and nearly 300 other domestic and international distribution partners.
Ingenico, who is a leading worldwide provider of payment solutions, initially invested in ROAM Data in November 2009, taking a 43% interest in ROAM when it was first launching its solution. Since then, ROAM has experienced more than 600% growth in revenue annually the past two years. It now plans to leverage this new round of funding to accelerate its market share and provide additional products and services for its payment service provider partners.
ROAM differentiation and value to its partners comes from over a decade of mobile commerce experience among its management team. ROAM was the first company to introduce the secure audio jack card readers to the market, it has a full suite of solutions on its platform that can be white-labeled, from mobile payment apps, to mobile checkout, to mobile offers and mobile wallet to help payment providers deliver mCommerce to its merchants. ROAM also offers a set of tools for developers to build their own applications using ROAM’s platform, and to allow merchants to use their existing merchant accounts. ROAM’s 3rd generation G3X mobile reader is best in class, supports hundreds of devices, from iOS, Android and Blackberry, to PCs and Macs, covering more compatible mobile devices than all other competing readers combined. ROAM’s patented and patent pending solutions enable Merchant Service Providers to compete with the best technology in the fast changing mCommerce market.
ROAM Data is the leading mCommerce Platform-as-a-Service (PaaS) provider extending physical Point of Sales (POS) and eCommerce to the mobile environment, to help merchants find and keep customers. Founded in 2005, ROAM’s solutions allow merchants to accept card payments on mobile devices, and allow consumers to easily make purchases in mobile shopping apps and ads. ROAM Data provides the total mCommerce platform including hardware peripherals, software, tools and services for merchant service providers to deliver powerful mobile commerce solutions to their merchants quickly, securely and robustly. Visit us at www.roamdata.com.
About Ingenico (Euronext: FR0000125346 – ING)
Ingenico is a leading provider of payment solutions, with over 17 million terminals deployed in more than 125 countries. Its 3,600 employees worldwide support retailers, banks and service providers to optimize and secure their electronic payments solutions, develop their offer of services and increase their point of sales revenue. More information on http://www.ingenico.com.
Rob Stringer, 857-254-2411