Kili Technology Corp has bought DeviceFidelity Inc, a U.S. provider of plug-and-play near field communication and mobile security solutions. The value of the acquisition was not disclosed. Kili, a Toronto-based payment processing business, said the deal creates a complete portfolio of mobile payments, security and acceptance products. Established in 2013 as carve-out of SecureKey Technologies Inc, Kili is backed by Blue Sky Capital and Rouge River Capital. Founded in 2007, DeviceFidelity has been venture-backed since 2012. Its investors include Dallas Venture Partners and Datacard Group.
Kili Technology and DeviceFidelity Merge to Create World-Class Mobile Payment Solutions Company
Companies Merge to Offer the Most Comprehensive Portfolio of Secure Mobile Payment and Acceptance Products in the Industry.
Combining DeviceFidelity’s highly accomplished team and proven track record with our vast portfolio of intellectual property will help accelerate our growth plans.
TORONTO, CANADA and RICHARDSON, TX (PRWEB) November 12, 2014
Kili Technology Corporation, a rapidly growing developer of secure, low-cost payment processing solutions announced today that it has acquired DeviceFidelity, Inc., the leader in plug-and-play Near Field Communication (NFC) and mobile security solutions. The combined companies will now offer the industry’s most complete portfolio of mobile payments, security and acceptance solutions globally to help accelerate the next generation of mobile financial transactions.
As a result of the merger, DeviceFidelity is now a wholly owned subsidiary of Kili, with founders Deepak Jain and Amitaabh Malhotra continuing in their roles leading operations at DeviceFidelity. The combined businesses will leverage Kili’s pioneering and industry leading “mPOS Solution-on-a-Chip” technology, its associated firmware and a product portfolio that includes a range of low cost payment acceptance devices and security modules. The companies will continue to offer DeviceFidelity’s existing secure microSD and NFC products while also developing an exciting new lineup of mobile point-of-sale and wearable products.
“Combining DeviceFidelity’s highly accomplished team and proven track record with our vast portfolio of intellectual property will help accelerate our growth plans” said Greg Wolfond, Founder and Chairman of Kili Technology. “The payment industry is going through one of the biggest transformations in decades. We want to stay at the forefront of this evolving mobile landscape by providing our customers and partners with the innovative solutions necessary to successfully embrace these changes.”
“DeviceFidelity has long pioneered the role of mobile devices as the leading platform of choice for secure transactions; a vision now being embraced by some of the planet’s most powerful technology and payments companies” said Deepak Jain, CEO of DeviceFidelity. “Kili’s vision and product strategy is a great fit for us and this merger will accelerate our plans to bring innovative, easy to deploy, end-to-end mobile solutions to merchants, consumers, telecom operators and financial institutions.”
The companies will continue their respective operations at offices in Toronto, Canada and Richardson, Texas, along with satellite offices in Silicon Valley and France. To learn more visit http://www.kilicorp.com and http://www.devicefidelity.com
ABOUT KILI TECHNOLOGY
Kili Technology Corporation develops cost effective, secure and certifiable solutions for payment processing based on its patented technology implemented in system-on-chip (SoC) ICs, firmware, reference designs, IP and hardware modules. This advanced technology, along with Kili’s extensive experience in end applications, enables customers to get to market quickly with the lowest cost mobile and countertop solutions. Kili is a divestiture of SecureKey, a leading identity and authentication provider, which initially developed Kili’s core technology over the last five years. Kili Technology maintains offices in Toronto, Canada and San Carlos, California. For more information, visit the company’s web site at http://www.kilicorp.com.
DeviceFidelity, Inc. develops mobile plug-and-play solutions that empower a variety of institutions to deploy their services and applications on millions of mobile devices worldwide. Its patented secure microSD and NFC cases for iPhone solutions transform popular mobile phones into interactive contactless transaction devices. DeviceFidelity is a wholly owned subsidiary of Kili Technology, with headquarters in Richardson (Texas) and offices in San Mateo (California), and Aix-En-Provence (France). For more information visit devicefidelity.com, follow us on Twitter @devicefidelity and at facebook.com/DeviceFidelity.
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