Monitise: Santander, Telefonica, MasterCard Invest GBP49.2 Million
LONDON--Monitise PLC (MONI.LN) has agreed new investment from Santander Group, Telefónica Group and MasterCard Inc. (MA) and enlisted IBM's cognitive computing technology to help speed up the roll-out of its mobile banking platform.
Monitise on Thursday said the three companies will invest 49.2 million pounds ($77.8 million) and are in talks about strengthening their commercial relationships with the company.
International Business Machines Corp. (IBM) will contribute "additional technology services and resources" including Watson, its cognitive computing and machine-learning technology.
"The next phase of our strategy sees Monitise, in collaboration with its partners, accelerating on its strategy to be the world's leading enabler of digital commerce services," said co-Chief Executive Elizabeth Buse.
Santander, Telefonica and Mastercard subscribe for 161.3 million shares at 30.5 pence each, Wednesday's closing price. Telefónica and Santander will have the joint right to nominate a director to the Monitise board.
Monitise reiterated its full-year guidance and its 2018 guidance, including a target of 200 million registered users.
