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Irish tech firm acquired by MasterCard for US$100m

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Irish tech firm acquired by MasterCard for US$100m

05.01.2009
Dublin-based software firm Orbiscom, whose technology is used by both MasterCard and Discover Card to enable secure credit-card payments, has announced today that it has been acquired for US$100m by MasterCard.

Orbiscom has previously worked with global credit-card firm MasterCard on various ventures including the inControl advanced payment authorisation platform.

MasterCard said that by acquiring Orbiscom it was “adding expertise, intellectual property and a talented team of innovative payments-industry professionals to MasterCard to develop new payment technologies for its customers.”

“Joining MasterCard, a proven, global payments leader, enables Orbiscom's innovations to come to life on a bigger scale,” said Garry Lyons, chief executive officer for the firm.

Orbiscom employs 50 people, and has offices in both Dublin and New York.

By Marie Boran