Mobile Banking Firm Monitise Now up for Sale

January 29, 2015, Written By Natalie Rutledge
monitise

After a decline in its stock price and projected low revenues in 2015, the mobile banking firm Monitise is now officially on the market.

The company, based in the United Kingdom, confirmed that it has several interested buyers in a statement released last week.

Monitise is currently transitioning to a product-based recurring revenue model. This shift has caused license revenue to drop to $6.6 million, a 47% decline. The firm’s development and integration revenue is down 13%, valued at $33 million. According to the company’s forecasts for 2015, Monitise is expecting to see a loss of $60-76 million for the year, even though there are hopes for profits in 2016.

Monitise has recently faced a drop in its share prices and a round of unpleasant feedback from shareholders, which is forcing the owners to take a look at their options. The firm appointed Moelis & Company as its advisor and is now assessing the possibility for a merger or complete takeover from potential suitors.

“The Board believes that the company has an exciting future as an independent business, however it recognizes 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 company said.



The information contained within this article was accurate as of January 29, 2015. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Natalie Rutledge

Natalie Rutledge majored in Communications at Mississippi State University. She was in sales for a number of businesses and spent nine years working as a communications advisor to various entities. Natalie can be contacted directly at [email protected]
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