US-based technology provider Fiserv has concluded the acquisition of British mobile banking vendor Monitise.
Fiserv said that Monitise’s complementary digital technology suite will advance next-generation digital banking solutions.
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Particularly, Fiserv is pining hopes on Monitise’s cloud-based FINkit solution that will now get added to its portfolio.
Fiserv president and CEO Jeffery Yabuki said: “Monitise has been a global pioneer and innovator in digital banking for more than a decade. Combining its talented associates and advanced technologies with leading digital solutions from Fiserv will expand our clients’ ability to provide differentiated experiences to their customers.”
Fiserv originally agreed to a consideration of nearly £70m for the acquisition in June 2017, at 2.90 pence per share. However, Fiserv increased its offer by around £5m to £75m in August 2017.
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By GlobalData
