Monday, May 20, 2013

payvia Buys Mogreet

Los Angeles-based mobile carrier billing service Payvia has acquired fellow Los Angeles firm Mogreet, the two companies said this morning. Financial details of the acquisition were not announced. According to payvia, the deal will allow it to offer a solution which includes mobile payments, user targeting and mobile marketing.

Payvia is venture backed by Silver Lake Sumeru, Montgomery & Co., and Trinity Ventures. Mogreet was venture backed by Ascend Venture Group, Black Diamond Ventures, DFJ Frontier, Draper Associates, and Spyglass Ventures.

As part of the acquisition, the companies said that Mogreet's full team will join payvia, and Mogreet founder and CEO James Citron will become its Chief Marketing Officer. payvia is headed by Darcy Wedd.

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