Fiserv completes takeover of Monitise
Now part of Fiserv
US tech giant Fiserv has completed its acquisition of Monitise, a UK-based mobile payments software and solutions provider.
The purchase was first announced in June this year, with Fiserv offering 2.90 pence per Monitise’s share (valuing it at around £70 million). The offer, however, was rejected by Monitise’s shareholders.
Fiserv then upped its bid to 3.10 pence per share, increasing the digital paytech vendor’s value to £75 million. The offer was accepted and the transaction is now closed.
Jeffery Yabuki, Fiserv’s president and CEO, describes Monitise as “a global pioneer and innovator in digital banking” with “talented associates and advanced technologies”.
The announcement follows hot on the heels of another high-profile acquisition made by Fiserv – of back-office paytech vendor Dovetail.
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