![]() The back story on the deal is a cautionary tale of technology startups working with corporate investors that change their priorities. Fiserv also generated $463 million in cash flow from operations for 1Q 2017. $26 billion market cap Fiserv has ample resources to close the deal, with $308 million in cash and equivalents as of March 31, 2017. The acquisition price is only slightly greater than Monitise’ annual revenues and represents a buyer of last resort due to Monitise’s lack of profit throughout its fourteen-year history. Content – Operator of digital distribution networks for digital couponsįiserv has offered to acquire Monitise in a $90 million all-cash deal that values the company at a small fraction of its zenith in 2014 as a billion-pound industry leader.Big radical – Product development studio.Americas – Mobile, enterprise alerting and SMS banking for the Americas regions.MEA – Application development for the Middle-East and Africa regions.FINkit – Platform focused on Tier 1 and 2 retail banks.The company organizes itself through several business units: Management is headed by CEO Lee Cameron, who has been with the company since 2006 and was previously General Counsel at Morse plc for much of his prior career.īelow is a brief demo video about the Monitise FINkit: Monitise counted Visa ( V) among its original financial backers. UK-based Monitise was founded in 2003 by Alistair Lukies to develop mobile banking and payments technologies for financial institutions. Monitise has created a suite of mobile banking and payments software but has fallen on hard times since Visa pulled its support from the company in 2014.įiserv will integrate Monitise’s core FINkit technology into its existing digital banking offerings to accelerate its next-generation digital banking offering development. Payments technology company Fiserv ( NASDAQ: FISV) has announced an agreement to acquire Monitise plc ( OTCPK:MONI) for approximately $90 million in cash.
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