FIS announced it has signed a definitive agreement to acquire the remaining 78% interest in mFoundry.
“mFoundry has a well-earned reputation for innovation, powerful vision and agile development and delivers one of the most advanced mobile platforms in the market today,” noted Gary Norcross, FIS president and chief operating officer. “Consumers have adopted the mobile channel faster than any other delivery channel in existence, and delivering industry-best mobile solutions is a vital focus area for FIS. Our goal is to provide the solutions that underpin an organization’s ability to best reach and serve its customers, and the addition of mFoundry plays a key role in that strategy.”
mFoundry's mobile platform has more than 850 clients including some of the largest banks, credit unions, payments processors, and retailers in the US. mFoundry built the original Starbucks Card mobile app.