Deutsche Telekom has acquired the remaining shares in the internet payment service provider Firstgate, best known for the ClickandBuy brand.
Through its venture capital company, T-Venture, Deutsche Telekom has held shares in Firstgate since 2006 and currently owns 20.2% of the shares. Deutsche Telekom has now taken advantage of majority shareholders’ willingness to sell and acquired the remaining shares. Part of the acquired shares are held by Intel Capital, Intel’s global investment organisation, which played a key role in the company’s development.
By acquiring Firstgate, Deutsche Telekom is positioning itself as one of the leading providers of online payment solutions. This step contributes to the implementation of the Deutsche Telekom Group strategy by expanding the portfolio in high-growth internet business.
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