Wicklow-based technology group Network365 today announced it was to merge with US company iPIN.
The firms, which specialise in payment technology over the Internet and mobile phones, will be known as Valista.
The companies say the merger, which is expected to be completed by January 2004, will create "the worldwide market leader in electronic and mobile payments technology". On completion of the merger, Mr Raomal Perera, the current chief executive of Network365, will become the CEO of Valista.
Mr Perera said, "Network365 has a strong presence in Asia and especially in Japan with a world-class customer base of leading mobile operators.:
" iPIN has made significant inroads into the ISP and landline operator sector and is primarily focused on the US and European markets."
"Valista will have a broader customer reach and an expanded global footprint which will enable us to become the world leader in payments solutions and standards," he added.