DoubleBeam acquires business end of Amazon's new startup purchase

We recently posted on Amazon’s rather quiet Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of mobile payment solution provider GoPago, and it would seem they are not the only company interested in strengthening their mobile capabilities with the help of the Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term.

While reports show Amazon acquiring the technology and engineering team behind GoPago, mobile solution provider DoubleBeam bought out the business end by acquiring the sales and merchant relationships.

“We are very excited about the synergies between Doublebeam’s leading mobile commerce solutions and the mobile point-of-sale systems that GoPago brings to the table. The complimentary capabilities of these technologies will bring a unique and holistic solution to the retail industry. It’s exactly what our customers have been asking us for.” stated DoubleBeam CEO Ted Tekippe on the acquisition.

Amazon has not released any official statement about the acquisition. However GoPago co-founder and CTO Vincenzo di Nicola confirmed Amazon’s purchase with Italian newspaper, Corriere della Sera, stating the technology will be used for "a new ambitious project".

DoubleBeam provides mobile e-checking solutions and according to the acquisition Press Release, they are most likely looking to expand their mobile offerings. We are left wondering what Amazon’s plan with GoPago’s technology is and what their ambitious project might be. Our guess is that they are planning on offering a variant of their “Login and Pay with Amazon” payment feature for mobile points-of-sale, positioning themselves as direct competitors to companies like DoubleBeam.