Wilson Sonsini - ECP

insight detail

Wilson Sonsini and Taylor Wessing Advise Boku in Acquisition of Fortumo

  • 06/25/20
  • Client Highlights
  • Fintech
  • Mobile Devices
  • Software

On June 17, Boku, a global mobile payment and mobile identity company headquartered in London, UK, announced an agreement to acquire Fortumo Holdings. Wilson Sonsini Goodrich & Rosati served as U.S. legal counsel to Boku, in collaboration with London-based law firm Taylor Wessing, which served as UK counsel in the transaction.

Fortumo, an Estonian direct carrier billing service provider, is being acquired for a maximum enterprise value of USD$41 million.

Fortumo primarily focuses on providing mobile payment solutions to more than 400 small-to-medium sized enterprises, and also services larger merchants such as Google, Amazon, and Tencent. Boku primarily serves large digital merchants. The acquisition is a significant step in Boku's global Direct Carrier Billing (DCB) growth strategy, and brings together the two most profitable platforms in the DCB market. It will cement the combined companies' positioning as a leading mobile payment and mobile identity solutions company.

The Wilson Sonsini team advising Boku includes the attorneys listed below. In addition, Daniel Glazer and Michael Labriola guided the firm's collaboration with Taylor Wessing.

Daniel Keating, Partner
Charlotte Kim, Partner
Amanda Pollard, Associate
Diviya Padman, Associate
Betty Rosenbaum, Associate
Rui Ke, Law Clerk

Employment Benefits and Compensation
Matthew Norgard, Associate

Derek Wallace​, Of Counsel

Please see Boku's announcement for more information.