ViVOTech has found a buyer for its software division: Trusted Service Manager and software provider Sequent. The news was announced this morning. With the acquisition, Sequent said it is now supporting a wide range of industry-leading customers including mobile network operators, financial institutions and equipment manufacturers.

"Sequent now offers customers an integrated solution developed by a world-class team with an unmatched level of expertise. Sequent is now uniquely positioned to deliver compelling solutions throughout the mobile ecosystem,” said Robb Duffield, who has assumed the role of CEO for Sequent.

Sequent said its product portfolio had focused primarily on services for secure element owners but will now expand to include TSM software for issuers and application service providers. The acquisition of ViVOTech means Sequent will be able to integrate banks and other service provider's credentials more efficiently into the SE of a mobile device, the company said. Additionally, using ViVOtech’s technology will streamline Sequent's Application Enablement Platform, a solution letting consumers use their payment cards and credentials across various mobile applications and mobile wallets.

ViVOTech, an early entrant in near field communications technologies, has been troubled for some time. The company was recently forced to sell off its point-of-sale hardware business to ID Tech. The announcement did not discuss terms for the acquisition. It also did not mention how the acquisition will affect ViVOTech's employees.

For more stories like this, visit the POS research center.