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CyberCash to Acquire Payment Processing Firm Tellan Software

Computergram International, June 30, 1999

CyberCash Inc is buying San Jose-based Tellan Software Inc, a privately-held company that produces payment processing software for internet commerce. CyberCash says it wants to consolidate its position in the payment software market, from physical points of sale to integrated enterprise payment systems.

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CyberCash founder and CEO Bill Melton explained that the long-term future of software-based payment systems seems to him to be far more promising than that of hardware, such as cash registers and point-of-sale terminals. Tellan's products fit nicely into this vision, including as they do MacAuthorize, PCAuthorize and WebAuthorize. Terms of the deal were not disclosed.

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