Monitise has completed the acquisition of US mobile banking and payments specialist Clairmail.
The $173 million deal, greenlighted after a shareholder vote yesterday, gives the UK-based mobile money outfit an enhanced partner and client base, including Visa Inc. and Visa Europe, FIS, Fifth Third Bank, U.S Bank, Royal Bank of Scotland, HSBC, Lloyds TSB, Co-operative Banking Group, Sallie Mae, PNC Bank, Frost National Bank, Standard Chartered, Permata Bank and HDFC Bank. It also boosts the company's presence in North America, where Monitise now provides services to over 300 financial institutions and partners.
"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. As the only pure play mobile money specialist with the scale and experience to deliver live services across four continents, we are honoured to be working with some of the world’s leading banks and payments companies,” says Monitise Group chief executive Alastair Lukies.
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