The Wall Street Journal recently reported that UK-based mobile money technology provider Monitise announced that it had acquired Markco Media Limited. The acquisition deal included the transfer of two of Marko Media’s holdings, namely MyVoucherCodes.co.uk and Last Second Tickets brands. The estimated cost of the acquisition is 24.5 million. The acquisition of these brands is expected to immediately secure Monitise’s international mobile commerce brand as an industry leader. These recent purchases, added to Monitise’s current Buy Anything mobile commerce product, effectively connect a global network of over 60,000 brands and retailers to mobile consumers.
MyVoucherCodes.co.uk, a premier daily deals and coupon site, brings with it a major list of high-level clients including John Lewis, Marks & Spencer, Debenhams, Argos, Thomson Holidays, Sky, Currys B&Q, Walmart, Tesco, Target, The Home Depot, Amazon and Carrefour. It is estimated that MyVoucherCodes.co.uk has contracts with 80 percent of the leading online retailers in the UK. They also bring substantial B2B and B2C business from the U.S., Germany, France and Brazil.
Last Second Tickets provides discounted tickets for live music, entertainment events and other leisure venues. It works primary with the venues, promoters and producers to arrange for discounted packages and then markets these packages to consumers via its sites. Monitise plans to display content and deals from both of the acquired companies via its massive mobile consumer base. Monitise already allows over 28 million consumers to purchase products, make payments or initiate bank transactions from any mobile device. Their products account for $71 billion of money transfers and payments each year.
Completion of the acquisition will be based on the issuance of 43,729,676 new ordinary shares at a value of 1p each commencing at 8:00 a.m. on June 27, 2014. This will bring Monitise’s total ordinary issued shares to 1,931,699,697.
Monitise’s Chief Commercial Officer, Lee Cameron, stated that as a leading industry player, Montise links consumers to retailers using a combination of innovation and technology. He stated that rather than building these technologies from scratch, purchasing them allowed them to get the solution to the market quicker. The technology has eight years of successful implementation behind it.
Regarding the acquisition of Markco Media, its founder Mark Pearson reiterated that mobile purchasing technology continues to play an integral role in monetary transactions as consumers use smart phones and tablets. He expressed excitement at joining Monitise’s growing mobile platform of products to further fill this market need.