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Visa Europe Buys Stake in Mobile Banking Service Provider

31 октября 2011

Credit card processor, Visa Europe is investing US$39.8 million in the UK based mobile banking service provider, Monitise through a new share issue.

As part of the subscription for Monitise shares, Visa Europe President and Chief Executive Peter Ayliffe, will join Monitise's Board of Directors.

In February 2011, Monitise entered into a partnership agreement with Visa Europe to develop and supply mobile payments services. That partnership gives Visa Europe a licence to Monitise's mobile technology.

Monitise also announces it has agreed to acquire the 51% stake in its US joint venture, Monitise Americas, held by Metavante Corp, a subsidiary of Fidelity National Information Services. In consideration for the purchase, Metavante will be issued with a 3.3% stake in Monitise. Completion is conditional on shares being admitted to trading on AIM.

Monitise's acquisition of the 51% stake in Monitise Americas values that business at $29.4 million.

Following the transactions, Visa Europe's and FIS's respective shareholdings in Monitise will be 8.8% and 3.3%.

Источник: Cellular news

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