Powa Tech is valued at $2.7bn

London-based tech company Powa Technologies has estimated its value at $2.7bn (£1.6bn) in the wake of its $75m (£44.5m) acquisition of Hong Kong-based rival MPayMe. Powa announced it would integrate MPayMe's Znap payment system with their own PowaTag mobile payment app. Powa founder Dan Wagner said the deal would "vastly increase" the global reach of the company.