Monitise completes acquisition of Clairmail

Acquisition to be earnings accretive by end 2013

Monitise, a provider of mobile banking, payments and commerce services has completed the acquisition of US mobile banking and payments specialist Clairmail (view press release). As a result of the deal, by the end of 2013 Monitise expects the acquisition to be earnings accretive and the enlarged group to achieve EBITDA breakeven.

Monitise now provides mobile money services to over 300 or so financial institutions and partners in North America, including a third of the top 50 North American financial institutions and of these eight of the top thirteen.

We are now handling over 100 million transactions a month as consumers benefit from always-on mobile access to their finances. We remain on track for a strong trading year and will be further strengthened next year by our acquisition of Clairmail,” said Monitise group chief executive, Alastair Lukies.

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