Xoom Buys BlueKite for $15M

By Allison Collins February 04, 2014, 5:01 p.m. EST 1 Min Read

Xoom Corp. has acquired payments company BlueKite Ltd. for $15 million in cash and equity.

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BlueKite, headquartered in Guatemala City, develops technology for cross-border bill payments. In February 2013, the company bought RedCycle Networks, which develops bill-payment technology that is integrated with utilities and telecommunications companies in Mexico, Guatemala, El Salvador and South America.

The transaction adds BlueKite's offerings to Xoom, which provides digital money-transfer services.

Between 2007 and 2011, San Francisco-based Xoom received $78 million in venture capital funding from Dag Ventures, Fidelity Ventures, Glynn Capital Management, New Enterprise Associates, Northgate Capital, Sequoia Capital and others. The company went public in February 2013.

Other recent payments deals include Global Payments Inc.'s January agreement to buy Payment Processing Inc. and Total Merchant Services' deal for Registroid LLC.

Allison Collins

Reporter

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