Monitise confirms it has received merger and sale interest
Monitise plc (LSE: MONI.L) ("Monitise", the "Company" or "Group") notes the media speculation in connection with the initiation of its Strategic Review on 22 January 2015 and confirms 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.
Discussions are at a highly preliminary stage and there can be no certainty that any transaction will result.
As stated on 22 January 2015, the Strategic Review will be all encompassing and include consideration of a range of corporate transactions and stock market listing options.
Monitise remains well funded and debt free with GBP 129m of gross cash, as at 31 December 2014. The Board believes that the Company has a unique set of global partners and customers, and reiterates its expectation to be EBITDA profitable in FY 2016 (the "FY 2016 Profit Forecast"). The Board also reiterates guidance of 200 million users and GBP 2.50 ARPU by end FY 2018, based on the scale of the market opportunity and partnerships in place.
Background:
Reports in the second half of last year referred to speculation that a resourcing agreement with IBM could lead to a takeover bid for the UK company by the US giant.