Monitise to Acquire Clairmail for US$173m
Clairmail, a North American mobile banking and payments provider, has entered into a definitive acquisition agreement with Monitise, a technology and services company delivering mobile money networks worldwide. Monitise will acquire Clairmail for US$173m, pending regulatory and shareholder approvals.
Through the acquisition, Monitise will further enhance its position in the fast expanding market for mobile money, spanning banking, payments and commerce. The combined entity will encompass 13 million registered consumers across four continents. Clairmail and Monitise process billions of transactions a year and more than US$10bn of payments and transfers on a current weekly annualised basis.
“Clairmail is an undisputed mobile banking leader with a strong roster of financial institutions of all sizes, having been chosen by more than a third of the top 50 North American banks to provide innovative mobile solutions to their customers,” said Alastair Lukies, Monitise Group chief executive officer (CEO). “Clairmail shares Monitise’s customer-centric approach and dedication to bringing the best possible mobile experience and technology through constant innovation and a focus on delivering bank-grade mobile services to their customers. This deal is transformational for our customers, our team, our shareholders and our company. It is a compelling combination and great news for all those wanting to offer bank-grade mobile money services to billions of consumers, not only in the US but worldwide.”