Monitise attracts takeover interest from FIS, Oracle and IBM
The US-based software and technology groups Fidelity National Information Services (FIS), Oracle and IBM are interested in buying the listed UK-based banking software developer Monitise, Sky News reported. The report noted talk that FIS, IBM and Oracle have indicated interest in Monitise, but did not cite a source for the claim. It is thought that the takeover talks are not far advanced, the item said.
Monitise began a sale process in January, the item said. It is believed that executives from Monitise visited US-based potential bidders last week, according to the report.
Monitise has a trading update scheduled for Tuesday, 17 February, the article noted. It is expected that the company will give investors some information regarding its discussions with potential bidders, the item added.
A spokesperson for Monitise refused to comment on Monday, the report said.
Monitise’s share price closed 0.5p up at 21.5p in London yesterday, valuing the company at GBP 459m.
Background:
Monitise on 22 January announced that it had hired Moelis & Company as financial adviser and Canaccord Genuity as nominated adviser (nomad) and broker to work on a strategic review.
Sky News, previously reported intelligence