Monitise confirms third party interest in sale - Mobile World Live

Monitise confirms third party interest in sale

26 JAN 2015

Following news that it is undergoing a strategic review which could include selling the business, UK mobile money firm Monitise has confirmed that it has “received a number of expressions of interest in a range of potential corporate transactions including a merger with a third party or a sale of the company.”

However, the statement added that discussions are at a preliminary stage and there can be no certainty that any transaction will result.

Monitise also said that it remains well-funded and debt-free with £129 million of gross cash, as at 31 December 2014.

In its previous statement, it forecast FY2015 EBITDA losses of around $60-76 million and that FY2015 revenue is projected to be between $136 million and $151 million, compared with previous forecasts of at least 25 per cent growth.

It reiterated its expectation to be EBITDA profitable in FY 2016 and added that by end FY 2018, it expects to hit 200 million users and £2.50 of ARPU, based on the scale of the market opportunity and partnerships in place.

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Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

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