In a move to strengthen its position as an e-commerce intermediary,
Bermuda listed Internet Payment System provider EarthPort.com
has agreed in principle the terms for acquiring 101010 Ltd, the
e-business solutions company.
The acquisition will allow EarthPort to provide turnkey portal
functionality for banks, wireless operators, digital television
operators, application service providers, ISPs, portals, merchants
and their customers.
The package will encompass the implementation of the EarthPort secure Internet payment system in conjunction with various financial, travel, shopping and personal organiser applications that can be delivered to businesses as "in-a-box solutions" or as extensible software applications.
EarthPort's Internet payment system allows users to transact over the Internet directly from their bank account via PCs and WAP-enabled devices. It facilitates business-to-customer, business-to-business and customer-to-customer two-way transactions of any size in multiple currencies. The system has a five-year track record of successfully facilitating global e-commerce for its users from 220 countries as part of a large Internet-based transaction site.
"The purchase of 101010 confirms EarthPort's position at the heart of the e-commerce and m-commerce revolution," said EarthPort.com executive chairman, David Vanrenen. "It means we can add further value by providing clients with a full menu of portal solutions coupled with the security of transacting online with the EarthPort secure payment system."
Said Lars Ljungwaldg, "The many synergies between the two companies make EarthPort and 101010 Limited a very good fit. 101010's applications will add substantial value to the EarthPort payment system, in addition to providing "in-a-box" solutions to large and small enterprises."
EarthPort.com is a UK company listed on both OFEX and the Bermuda Stock Exchange.
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