Originally (and unfortunately) called Isis, Softcard, has had hundreds of millions of dollars pumped into it by it's JV backers AT&T, T-Mobile and Verizon. It is now rumoured to be in advanced M&A talks with Google for less than $100M. I am curious why Google think they need to buy it?
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Google Is In Talks With Mobile Payments Company Softcard
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Softcard earlier this month laid off about 60 employees and has been in a consolidation phase. The company would not comment on the M&A rumors or how much has been invested in the operation but provided a comment about the layoffs. “Softcard is taking steps to reduce costs and strengthen its business. This includes simplifying the company’s organizational structure and consolidating all operations into its Dallas and New York offices, which involves layoffs across the company,” a spokesperson said. “We believe these efficiencies will best position Softcard in the marketplace while maintaining focus on serving our market.”
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