Spire Payments Acquires Thyron and Makes Its Debut in the Mobile Payment Market

LONDON --(Business Wire)--

Spire Payments is delighted to announce the acquisition of Thyron Payments Systems, a recognised leader in the mobile payments market. The purchase, which concluded today, sees Spire Payments solidifying its position as the third largest player in Europe by providing a market leading Chip and PIN / PCI (News - Alert) SRED certified mobile point of sale (MPOS) solution alongside the new range of Spire Payments terminals, due to be rolled-out in Q2 of 2013.

Under the terms of the agreement, Thyron will become a wholly owned subsidiary of Spire Payments UK Limited, and will become the focal point for Spire's strategy on mobile payment technology and products. Kazem Aminaee, CEO and President of Spire Payments, says of the move; "This is further proof of our commitment to deliver Spire's product roadmap and business strategy. At our industry launch event last September, I promised our customers that Spire Payments would bring a new range of terminals to market in 2013, including a product that would address the evolving MPOS market. We are now following through on this commitment."

Thyron was founded in 1989 and was most recently led by Michael Ault as Managing Drector. Thyron has consistently been at the forefront of payment services technology with many 'first to market' products, such as the first contactless integrated GPRS mobile terminal and the first PCI 2.0 PINPad with SRED certified encryption. Thyron's latest product, the PosMate ® Smart, provides the only MPOS solution for the micro merchant truly deployed in the field and compliant with latest Visa recommendation for Mobile Payment applications. The device enables small enterprises such as plumbers, builders, gardeners and mechanics to accept card payments by integrating easily with Smartphones and tablets and is secure due to the PosMate's® PCI and EMV certification. The solution has been adopted and largely deployed by the major UK PSPs and acquirers.

Aminaee adds; "The Thyron team are a highly focused and talented group of individuals with particular strength in the vital mobile sector, which will perfectly complement the existing skill sets we have within Spire Payments. We welcome all Thyron customers to Spire Payments and look forward to a long and successful relationship."

Michael Ault, Managing Director of Thyron confirmed; "The combination of Spire Payments and Thyron expertise and know-how in the payments space creates significant possibilities in terms of products and services. This is truly exciting for the industry."

Aminaee concludes; "It's a wonderful start to 2013 and means Spire Payments is able to hit the ground running in terms of delivering a tried and tested EMV-compliant MPOS solution to our existing customers. Expect more exciting acquisitions in the coming year; this is just the first of many."

For more information please see www.spirepayments.com

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