Mobile Banking And Payment Startup mFoundry Sold To FIS For $120M On $165M Valuation

Some consolidation in the world of mobile payments and mobile banking: mFoundry is getting acquired by FIS?for $120 million. FIS -- a banking and payment provider that works with some 14,000 banks worldwide -- already had a 22% stake in the company; today's deal will see it paying for the remaining 78% in cash. mFoundry provides mobile banking and mobile payment solutions to some 850 banks and retailers, including Bank of America and Starbucks, which uses some of mFoundry's technology to enable mobile payments, which complements the partnership that Starbucks has with Square.

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