The Swedish mobile payments company Seamless has agreed to acquire Ingram Mobile Mobility's prepaid mobile operations in Sweden and Denmark.
The acquisition is expected to close early next year. Seamless paid a down payment of SEK 4 million (US $560,000) in cash. Seamless will not have to pay for clients who discontinue Ingram use before June 30, 2015. Seamless will determine the final acquisition price at that date.
The purchase of the California-based Ingram's Nordic operations would allow Seamless to expand its mobile payment offerings, including adding a distribution channel for mobile gift cards. It would also mark Seamless' first expansion to Denmark.
"With this line of business acquisition, we increase our distribution business in Sweden, enter the Danish market and further strengthen our service offering to retailers," said Peter Fredell, chief executive of Seamless, in a Sept. 22 press release.