Monitise announces possibility of sale

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Monitise has announced that it is open to being bought by another firm.

The sale is being considered by the struggling mobile payments company as part of a "review of all strategic options". Monitise states the review comes "in light of recent share-price weakness, shareholder feedback and industry developments".

A statement read: "The Board believes that the Company has an exciting future as an independent business, however it recognises that there may be other businesses which could leverage Monitise’s capabilities for digital commerce enablement to significantly accelerate the growth of the business and take maximum advantage of the growth opportunities in the market today."

"The Strategic Review is expected to be all encompassing and will include consideration of corporate transactions and stock market listing options."

The company’s 2015 H1 projections expect licence and development & integration revenue to fall, though subscription and transaction revenues are expected to rise. Monitise claims these projections are consistent with its transitioning business model.

The two co-CEOs, Alastair Lukies and Elizabeth Buse, commented: "We are successfully transitioning our business to a product-led, recurring revenue digital technology company. Partner and client support for this was underscored by major partnership updates during the first half, and the many services we developed and helped to launch across Europe, the Americas and Asia."

Monitise specified that Moelis & Company would be handling the potential sale and undertaking a review of the company’s options.

"In our business and the review we are now embarking on, we remain focused on ensuring the best possible outcome for all Monitise stakeholders," Lukies and Buse added.

 

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