mFoundry, the original developer behind the Starbucks mobile application, has been acquired by FIS, which already owned a 22 percent stake in the company. FIS said it will pay $120 million in cash for the remaining stake. Other investors in the nine-year-old company include MasterCard, Intel Capital, Motorola Mobility, PayPal, Bank of America and Ignition Partners. MFoundry had 850 clients, many of which were banks that deployed the company’s technology inside of their mobile apps.

Categorised as: Chief Digital Officer | Digital Media | Feedster

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