Point of sale provider VeriFone Systems Inc. announced it has acquired Global Bay Mobile Technologies. The announcement said Global Bay, a provider of mobile retail solutions, represents the latest development in VeriFone's strategy to bring mobile into the world of retail and payments.

According to the announcement, Global Bay's technology, along with VeriFone's secure mobile payment technology, give retailers a comprehensive, integrated suite of mobile applications.

"Global Bay's mobile retail applications complement our vision to deliver rich commerce solutions that open up new opportunities for merchants to engage their customers in deeper, more meaningful ways that will generate increased profitability and shopper loyalty," said Jennifer Miles, VeriFone executive vice president, North America.

Global Bay co-founders Sandeep Bhanote and Nimit Sabharwal have been appointed to positions within VeriFone. Bhanote, who was CEO of Global Bay, will be the general manager of VeriFone's Mobile Retail Systems business. Sabharwal, Global Bay vice president, will be senior director of operations.

"VeriFone understands the profound and transformative impact that mobile technology will have on the future of retail," said Bhanote. "Together we will maximize delivery of cutting edge mobile solutions that will change the face of retailing as we know it."

The announcement said Global Bay's entire management, technology, sales and support staff will remain in their present roles within this division.

Terms of the deal were not disclosed.