Citing the proliferation of smartphone Near Fear Communication applications, NFC provider Vivotech Inc. next year plans to conduct an initial public offering of company stock to help boost its ability to build more NFC products and systems, Muhammed Khan, founder and president of Vivotech, tells PaymentsSource.
“The NFC phenomenon is really getting big and going very fast,” says Khan. “This is a new set of opportunities to take that connectivity that started with the Internet and bring that into the physical world with NFC.”
With the anticipated increased interest in NFC-enabled phones and systems that support mobile payments comes interest from Wall Street investors, Khan says. Whenever a company mentions NFC developments, its stock goes up, a signal that it is time to take Vivotech public, he says.
“The investment community recognizes how big the NFC phenomenon is, and from a timing point of view we believe this is a good time to go public to raise money to support more NFC software and hardware development,” says Khan.
Vivotech has installed more than 800,000 NFC systems around the world and has 80% of the NFC-systems market in the United States, Khan says. The company expects smartphone distribution globally to reach 70 million units this year, increasing to 150 million by 2012. Most of that growth will be in North America, Khan says.
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