Allied takes Fastpath

ALLIED Mining & Processing has entered into an agreement with Internet Business Centre principals Richard Keeves and David Dell to acquire an interest in Fastpath Pty Ltd.

Fastpath has developed an Internet security system for use on worldwide e-commerce transactions.

“It’s a concept we’ve worked on and are developing,” Mr Keeves said.

Under the terms of the agreement, Allied is to acquire a 30 per cent in Fastpath by financing the development of the first stage with the right to increase its equity to 51 per cent.

A patent application for the technology is yet to be finalised.