STUTTGART, Germany - Brokat AG has acquired a $12 million share of the Spanish start-up MyAlert.com in an effort to increase its activity in the mobile business sector.
MyAlert.com, an Internet portal with 450,000 registered customers, delivers personalized information via wireless devices or e-mail. Its investors include the Spanish banks Banco Santander Central Hispano and Banco Bilbao Vizcaya Argentaria.
The German software company plans to use MyAlert.com's technology to develop mobile services and applications based on its Twister middleware platform. It also plans to set up an innovation center with MyAlert.com in Madrid, where the Internet firm is headquartered.
Brokat said it hopes to enable its 2,000 financial services customers to offer individual mobile information to investors, such as stock exchange messages, rate warnings, share prices, or reminders of particular events.
MyAlert.com, founded last year, has 85 employees and branches in Paris, Milan, Stuttgart, and Miami. Brokat, founded in 1994, employs 750 in 16 countries. Its customers include Allianz, Bank of America, Deutsche Bank, ABN Amro, and Toronto-Dominion Bank.