Press release from Business Wire India
Source: Roamware Inc.
Wednesday, September 09, 2009 12:00 PM IST (06:30 AM GMT)
Editors: General: Consumer interest, Economy; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Information technology, Telecommunications; Technology
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Roamware Acquisition Outlines Strategy to Lead in Global Mobile Financial Services
Leverages Mobile Opportunity to 'Bank the Unbanked' - a $5bn Industry by 2013, Juniper Research
San Jose, California, United States, Wednesday, September 09, 2009 -- (Business Wire India) -- Roamware Inc., a global leader in mobile roaming solutions, announced that it has completed the acquisition of Macalla Software Ltd, a leading developer of mobile financial services (MFS) solutions. Macalla's m-commerce and mobile banking solutions are successfully deployed by banks and operators around the world; these solutions include credit transfer, international remittance, person to person transactions, top-up and bill payment. With Macalla's acquisition, Roamware aims to build upon its roaming expertise and become a market leader in MFS, specifically addressing the needs of low income, unbanked communities across the world.
According to Juniper Research, the Service Provider market revenues will exceed US$5bn globally by 2013. These revenues are based on the commissions and charges acquired from the gross value of money transactions derived from mobile money transfer services and remittances. Juniper Research highlights a significant opportunity for the providers and vendors of mobile money transfer (MMT) services as the market takes off, beginning as early as 2010.
"We are clearly the market leader in roaming with over 60 per cent global market share and 382 global network operators as customers," said Bobby Srinivasan, CEO of Roamware. "The move into mobile banking and m-commerce is a natural extension for us as it leverages our customer relationships, business partnerships and technology innovation - banking for the un-banked is a massive market opportunity for Roamware. The Macalla acquisition brings us domain expertise and a proven platform that will enable us to take a leadership position in this emerging category."
Niall O'Cleirigh, co-founder and CEO of Macalla said: "Macalla has been a leading innovator enabling mobile money transactions across banks, remittance service providers and mobile operators. By joining forces with Roamware, we can benefit from its global reach and relationships within the mobile community to build a true global ecosystem of mobile financial services."
Macalla will adopt the Roamware brand and the expanded team will continue to be based out of Dublin servicing existing and new clients.
About Roamware
Roamware Inc. is the global leader in voice and data roaming solutions that enhance the roaming experience for users in over 140 countries worldwide across 382 mobile operator networks. Roamware's product portfolio consists of over 30 solutions for voice and data roaming for mobile network operators using different technologies like GSM, 3G and CDMA. Roamware is the established thought leader in the space with several key patent wins and applications for breakthrough technology that has helped operators establish, manage, optimise and enhance their roaming business.
For more information about Roamware, please visit: http://www.roamware.com
About Macalla
Headquartered in Ireland, Macalla leads the way in innovative mobile financial services software solutions across Europe, the Middle East, Africa and the Caribbean including mobile banking, credit transfer, international remittance, top-up and bill payment. Macalla recently won an ICT Excellence Award 2009 for an application which enabled Permanent TSB's customers to carry out text banking, top up their mobile phones and obtain emergency cash from an ATM without the use of an ATM card.
www.macalla.com
CONTACT DETAILS
Michelle Sabolich, US - Atomic PR, +1 415 402 0230, Michelle.Sabolich@atomicpr.com
Vojtech Horna, Europe - Atomic PR, +44 (0)20 7282 2901, Vojtech@atomicpr.com
Ameya Sirur, Asia - Gutenberg PR, +91 (22) 26055745, ameya@gutenbergpr.com
Abraham Punnoose, VP - Marketing and Business Development, Roamware Inc, +91 9967927777, Abraham.punnoose@roamware.com
KEYWORDS
CONSUMER, ECONOMY, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, IT, TELECOMMUNICATIONS, TECHNOLOGY
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