New Zealand-based Pushpay Holdings Limited, a mobile payment company, has acquired the business assets of Run The Red Limited, a provider of targeted text messaging solutions locally and globally, according to a press release.

Terms of the deal were not disclosed in the press release.

Run The Red is a 12 year-old company that integrates text messaging with core business applications using a high quality SMS Gateway and delivers over 150 million targeted text messages per year, according to the press release. Run The Red services enterprise customers in New Zealand and the South Pacific including Westpac, Vodafone, Sky TV, Z Energy, Facebook and The Department of Internal Affairs.

"We are excited to welcome the Run The Red team into Pushpay," Chris Heaslip, CEO of Pushpay, said in a press release. "Their technology will enable us to integrate mobile payments through SMS and mobile messaging, which is especially useful for enterprise clients. It also significantly boosts our technology stack allowing us to offer the same technology to our other target markets."

Run The Red has gained trusted tier one SMS connectivity partner status with all New Zealand mobile networks including Telecom, Vodafone, TelstraClear and 2degrees, according to the press release.

Run The Red will continue to trade under its current name in New Zealand with current CEO Ben Northrop heading the New Zealand operation.