Lightbridge Inc. (LTBG.O), a transaction processing company, said on Monday it agreed to buy online-payment processor Authorize.Net from InfoSpace Inc. (INSP.O) for $82 million in cash in order to diversify its client base amid consolidation in telecommunications.
Chief Executive Pamela Reeve said Lightbridge, which processes customer applications for wireless phone services, is moving to expand into the growing Internet commerce industry.
Source: Reuters