IMGCAP(1)]
Sovereign Wealth Corp., a mobile-phone marketing and investment company, today announced it has signed a definitive agreement to acquire CellCard from eAccounts Inc., an Encinitas, Calif.-based merchant-services provider. The acquisition will be an all-stock transaction, according to a statement from the Newport, Calif.-based company. Sovereign did not release details of the acquisition, and company executives were unavailable to comment by CardLine's deadline. CellCard provides a mobile phone-based payment application that enables consumers to pay for goods and services with a credit or debit card linked to their mobile phone. Users can send a text message to participating retailers to complete a transaction, according to the statement.
