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CyberCash Acquires Tellan Software

CyberCash Inc. said this week it will acquire Tellan Software Inc., a provider of payment processing software, in a merger expected to be completed by mid-July.

CyberCash said the acquisition will consolidate its dominance in the payment software market, including physical points of sale and integrated enterprise payment solutions.

Financial terms were not disclosed.

Tellan, a privately held company founded in 1992, produces payment processing software for Internet commerce, as well as global enterprises wishing to consolidate disparate payment applications into a centralized payment platform. The company's brands include MacAuthorize, PCAuthorize and WebAuthorize. Tellan products are certified with major U.S. bank networks for business-to-business and consumer-to-business transactions.

"The Tellan product line enhances CyberCash's position as the leading provider of solutions that enable merchants to conduct e-commerce simply in both the physical and virtual worlds," said Jim Condon, president and COO of CyberCash.

CyberCash brands include ICVERIFY, PCVERIFY, CashRegister, NetVERIFY, CyberCoin, PayNow and InstaBuy.