Publicly listed Monitise (LSE: MONI), a world leader in Mobile Money—banking, paying and buying with a mobile device—has agreed to acquire Pozitron via an all share deal valued at $100m.
“When we began putting mobile at the heart of our commercial focus nine years ago, we had a vision for how innovative design and ease-of-use could change how people manage their money on the move,” said Fatih İşbecer, Founder and CEO of Pozitron. “Joining Monitise accelerates that vision and gives us access to the Group’s unrivalled technologies and expertise. We look forward to being part of the Monitise team as demand grows for Mobile Money solutions.”
“GP Bullhound provided invaluable support throughout this transaction due to its deep advisory experience, sector expertise and global network”, commented İşbecer.
Monitise Group Chief Executive Alastair Lukies commented: “This acquisition of Pozitron further reinforces our leading position as a global technology enabler at the heart of the Mobile Money ecosystem. It comes at a time when we are seeing increasing demand for interoperable Mobile Money services as payments become more digital by the day, not only in Turkey, Europe and the Middle East but also around the world.”
This represents the completion of GP Bullhound’s 25th transaction in the last year and further highlights our commitment to working with category leaders.
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Pozitron was founded in 2000, employs 130 staff and is headquartered in Istanbul, Turkey. The company is a leading mobile software provider, powering next generation mobile money solutions for more than 30 leading enterprises across banking, telecoms, retail and pharmaceuticals, including Turkish Airlines, eBay, ING, TEB, which is part of BNP Paribas, GlaxoSmithKline and Hepsiburada.com, Turkey’s equivalent to Amazon. Financial services partners in its home market include Türkiye İ Bankası, the largest bank in Turkey, Yapı Kredi, the fourth-largest private bank in Turkey and BKM, the country’s national payments switch. In the Middle East, Pozitron’s customers include ANB, one of the largest 15 banks in the Middle East, and QIB, the largest Islamic bank in Qatar.
Monitise (LSE: MONI) is a world leader in Mobile Money – banking, paying and buying with a mobile device. Leading banks, payments companies, retailers and mobile networks utilise Monitise’s technology platforms and services to securely connect people with their money.
Already 24 million consumers benefit from Monitise’s patented technology to ‘bank anywhere’, ‘pay anyone’ and ‘buy anything’, accounting for $50bn of payments, purchases and transfers annually. More information is available at http://www.monitise.com