VeriFone Systems has announced the acquisition of Global Bay Mobile Technologies in order to expand its mobile retail offerings.
VeriFone, a supplier of point of sale equipment, says the acquisition is the latest development in their strategy to bring new smart phone and tablet-based shopping and payment experiences to retail organizations. Terms of the transaction, which closed effective immediately, were not disclosed.
Global Bay has worked with retailers across North America, Europe and Asia to increase sales and improve customer satisfaction with mobile applications that leverage existing POS, e-commerce, and traditional store systems, according to VeriFone.
VeriFone says their combined technologies will yield new applications in Mobile POS, Clienteling, and Store Inventory Management.
Global Bay co-founder and CEO Sandeep Bhanote has been appointed general manager of VeriFone’s Mobile Retail Systems business, while Nimit Sabharwal, Global Bay’s VP and other co-founder, has been appointed senior director of operations. Global Bay’s entire management, technology, sales and support staff will continue in their present roles within this division.