TowerGroup Experts Available to Discuss Qualcomm's Purchase of Mobile Banking Startup Firethorn

NEEDHAM, Mass., Nov. 15 /PRNewswire/ — This week Qualcomm agreed to acquire mobile banking startup Firethorn for $210 million. TowerGroup predicted that market consolidation within the mobile banking and payment sector would begin in earnest before YE07 at the May 2007 TowerGroup Annual Conference. Firethorn has been a major innovating force in the mobile banking sector, capturing major banks including Wachovia, SunTrust, Regions, USAA as well as several smaller institutions.