Sequent Acquires Software Division of ViVOtechOctober 19th, 2012
Sequent’s product portfolio, which had focused primarily on services for secure element owners such as mobile network operators, now expands to include TSM software for issuers and application service providers. The acquisition enables Sequent to integrate banks and other service provider’s credentials more efficiently into the secure element of a mobile device. The addition of ViVOtech’s underlying technology also streamlines Sequent’s Application Enablement Platform, the breakthrough solution that allows consumers to use the cards and credentials they trust in mobile applications and multiple mobile wallets.
With this acquisition, Sequent has one of the largest and most experienced teams of experts in the industry. “Sequent now offers customers an integrated solution developed by a world-class team with an unmatched level of expertise. Sequent is now uniquely positioned to deliver compelling solutions throughout the mobile ecosystem,” said Robb Duffield, who has assumed the role of Chief Executive Officer. As the company transitions to a more operational stage, Drew Weinstein, founding CEO, will become a Director on the Sequent Board.
Founded in 2010 by payment and mobile industry veterans, Sequent provides a leading Trusted Service Manager (TSM) software and services platform. Sequent’s comprehensive Secure Element Management service supports diverse contactless security technologies while rapidly onboarding issuers, application providers, and their technology partners. In addition, Sequent’s breakthrough App Enablement Platform makes it easy for smartphone developers to integrate Near Field Communication (NFC) payments and other credentials into rich, branded consumer mobile apps. Headquartered in Redwood City, California, Sequent has funding from Opus Capital, SK Telecom Ventures, and others. For more information, see www.sequent.com.
PR Contact: Paula Berger, VP, Marketing and Communication, Sequent, +1 650-318-5758, firstname.lastname@example.org