Visa acquires PlaySpan for $190M

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Visa Inc. has announced plans to acquire PlaySpan Inc. for nearly $190 million with additional earn-out potential.
The move comes as incumbents in the credit card and traditional payments space jostle with startups for positioning in the nascent mobile arena. PlaySpan isn’t purely mobile — it also provides tools for digital commerce, analytics and fulfillment — but mobile is surely part of what attracted Visa to PlaySpan.
Digital commerce sales reached $948 billion globally last year and according to Visa, it manages approximately 45% of U.S. online spend. PlaySpan generated approximately $25 billion in spending last year and is expected to reach $280 billion by 2014.
Visa’s acquisition of the Santa Clara, Calif.-based company is expected to close in the second quarter.

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About Author

Matt Kapko

Former Feature writer for RCR Wireless News
Currently writing for CIO
http://www.CIO.com/
Matt Kapko specializes in the convergence of social media, mobility, digital marketing and technology. As a senior writer at CIO.com, Matt covers social media and enterprise collaboration. Matt is a former editor and reporter for ClickZ, RCR Wireless News, paidContent and mocoNews, iMedia Connection, Bay City News Service, the Half Moon Bay Review, and several other Web and print publications. Matt lives in a nearly century-old craftsman in Long Beach, Calif. He enjoys traveling and hitting the road with his wife, going to shows, rooting for the 49ers, gardening and reading.