Monitise’s shares saw a boost after the mobile-banking software company claimed to be in ‘constructive discussions’ over a possible sale.
Monitise put itself up for sale last month after its third profit warning in a year, and received “a number of expressions of interest” despite falling revenues. Some US tech firms such as FIS could be in discussions with the British company, Sky News reported, and Oracle and IBM have expressed a tentative interest.
“The announcement of our strategic review has led to many constructive discussions with market-leading players interested in our business and the role we play in the industry,” Monitise chairman Peter Ayliffe said. “These positive discussions and the strong support from our existing strategic partners and clients underpin the board’s confidence in the company’s strategy, unique positioning, future prospects and value.”
The British company’s shares went up 11 per cent after the announcement, Reuters reported.
Monitise is shifting away from a subscription based model to focus on its individual products and services, but has yet to turn a profit from the ploy. The company
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Oh, what we wouldn't do to know the future! Like Biff and the Almanac in Back to the Future, all we need is a guide. Luckily the team over at Pivotl is on hand to give us one for the future of fintech.
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