Spindle Inc., a mobile payment solution provider based in Scottsdale, Arizona, is acquiring MeNetwork Inc., an exciting young provider of location-based mobile marketing solutions.
According to an announcement from Spindle, the company will integrate MeNetwork’s mobile advertising technology into its mobile payments platform.
No financial terms were disclosed.
The acquisition underscores the growing industry-wide trend that sees mobile payments and mobile marketing enjoying a closer relationship in today’s marketplace.
MeNetwork, which has clients relationships across the US and Europe, will likely give a boost to the consistent expansion of Spindle’s mobile payment and loyalty solutions, which primarily focus on banking and retail companies.
“We are delighted to finalize the deal with MeNetwork, which now gives Spindle a comprehensive mobile commerce solution that incorporates mobile marketing and mobile payments,” says Bill Clark, president of Spindle.