Of Special Interest

29th June 2012

Monitise completes on Clairmail acquisition

Monitise completed on the acquisition of Clairmail the day after the Monitise EGM giving approval for the deal. The deal is logical with the Monitise strengths in mobile paltform delivery for Europe and larger global institutions and Clairmail's strength in mid-market US banks.

Combined the two handle over 1bn transactions per annum and value of US$15bn per week. The all paper deal valued Clairmail at $173m and Monitise expects the deal to be accretive from the end of 2013 onwards.

Monitise has worked on a model whereby many large financial customers have taken minority investment stakes in Monitise.
Chief Executive Alastair Lukies said: "Since its inception Monitise has believed that financial institutions are best placed to provide sustainable, scalable and innovative solutions across all digital channels when it relates to consumers’ finances. Banks’ involvement at the centre of the Mobile Money supply chain gives consumers the confidence and security they need to embrace new services both online and offline from merchants, affinity partners and other consumer brands, all delivered across the device of choice for six billion of the world’s population, namely the mobile phone.”