Mint Technology acquires the assets of EC Webworks

Tuesday 11 May 2004 07:31 CET | News

Canadian Mint Technology has concluded a transaction acquiring the assets of EC Webworks Inc. (ECWW), an electronic commerce and web services company.

The transaction is consistent with the execution of Mint Technologys business strategy, and complements the companys mobile commerce capabilities. ECWW is currently profitable on an EBITDA basis of annualized revenue of approximately $1 million, with 50% consisting of monthly recurring revenue. Synergies are expected to generate an improvement in EBITDA margins to 20%. Over the past four years, ECWW has spent in excess of $2.5 million in research and development towards their web-based technologies.

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Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce