Qualcomm Claims Firethorn for $210 Million

Analysts expect to see most of the startup mobile-banking vendors do one of two things in the following years: get acquired or die. But few expected the action to take place during mobile banking 2.0’s infancy. This so soon when few can safely proclaim that mobile banking has arrived. Firethorn Holdings, which has been one of the early industry table-setters with deals from Wachovia, Regions Financial, BancorpSouth and SunTrust, was snapped up last week by wireless tech provider Qualcomm in a deal worth $210 million. Firethorn’s unique play is to establish partnerships with wireless carriers like AT&T and Verizon Wireless for quick-turn mobile-banking launches. Firethorn is less than a year old, having launched in January with $14.8 million in investor funding. The deal, which will keep the Firethorn staff in Atlanta and CEO Tripp Rackley in the fold, is expected to close within a month.