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.