Monday, May 4, 2009

BankServ Acquires Commerciant

San Francisco-based BankServ, a provider of electronic payments technology for the financial industry, said Monday that it has acquired Commerciant, a Houston-based provider of mobile and handheld payment processing hardware and technology. Financial terms of the acquisition were not disclosed. BankServ said the asset deal included key patents in the mobile payments industry, and would strengthen its portfolio of electronic banking systems for financial institutions and businesses. Commerciant was backed by Accent Texas Fund, Advantage Capital Texas and Aegis Texas Venture Fund.