Fiserv to buy Monitise for GBP 70 mln

Wednesday 14 June 2017 | 09:04 CET | News

Monitise has agreed to be acquired for GBP 70 million in cash by Fiserv. Under the deal, each Monitise stockholder will get 2.9 pence per share. The price represents a premium of over 26 percent from the share price of Monitise on the last business day before this announcement.

The transaction, which still needs to be approved on different fronts, is expected to complete in the third quarter.

Monitise reported revenues 16 percent lower to GBP 28 million in the second half of last year, and said it expected the figure to drop further in its financial year to end June. Started in 2003, UK-based Monitise specialises in mobile payments technology.

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