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Irish software company Orbiscom has been purchased by Mastercard in a deal worth up to $100 million (€73.5 million).

Orbiscom specialises in secure payments software for financial companies. The takeover comes just over a year after Orbiscom agreed a deal to embed its technology into Mastercard card products.

Gary Lyons, Orbiscom chief executive, said joining Mastercard would allow its innovations “to come to life on a bigger scale”. Orbiscom has offices in Blackrock Co Dublin and New York and employs 50 people.  

Robert W. Selander, MasterCard president and chief executive officer, said the addition of Orbiscom’s expertise and team of payments-industry experts would accelerate the development of new payment solutions.