Akimbo Financial Acquired By Payment Data Systems

San Antonio-based Akimbo Financial, a provider of prepaid Visa cards and related mobile and online software, has been acquired by electronic payments provider Payment Data Systems, the two said Tuesday. Payment Data Sysetms said it will pay three million dollars for Akimbo, paid primarily in common stock, in two tranches, with up to $300,000 in cash if any liabilities are assumed. Payment Data Systems is also based in San Antonio, and is OTCBB traded as PYDS.