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724 Solutions Buys ezlogin.com

724 Solutions Inc. Thursday grabbed Net device creator ezlogin.com for $127 million in stock.

The Net software developer for financial services providers will acquire all of ezlogin.com's outstanding shares for 888,934 of its common shares.

724 Solutions (SVNX) will use ezlogin.com's solution, which leverages data aggregation to create a personalized site for its clients to access atheir password-protected online accounts. Rather than visiting different Web sites to access online bank, brokerage, and e-mail accounts, users are now able to enter one password and access all of those accounts from one page.

The ezlogin.com team includes approximately 30 people, with about 20 engineers.

"724 Solutions' acquisition of ezlogin.com will facilitate the expansion of our Financial Services Platform to bring banks and brokerages the added value they are seeking," said Greg Wolfond, chief executive officer, 724 Solutions.

724 Solutions customers include Citigroup, Bank of America, Bank of Montreal and Wells Fargo.



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