Trivnet, Ltd. was a leading provider of mobile finance services with the unique mobile remittance platform they developed. The company was founded in 1997, and originally focused on internet payment systems. Eventually, in 2001-2, the company shifted its focus to payment systems for mobile applications. In 2007, when Magma invested in the company, Trivnet focused its business onto mobile remittance and commerce applications. By 2009, the company had formed OEM partnerships with Amdocs and Gemalto, and won customers such as Telefonica.
In August, 2010, Trivnet was acquired by Gemalto, N.V. AXL (NASDAQ: GTOFF), a leading European digital security company. Modi Rosen represented Magma on the board of Trivnet.
Press Release on the Acquisition: https://www.gemalto.com/investors/2010_annual_report/segmental-review/index.html