Monitise shares shift up on talks of content business sale

Monitise shares shift up on talks of content business sale

Long-suffering investors in mobile banking firm Monitise have at last been given some reason to cheer amid confirmation that the beleaguered company is in talks to sell its marketing content business Markco Media.

Monitise bought Markco Media, the parent company of coupon and deal site in 2014.

Although Monitise cautions that discussions are in "very early stage", shares in the vendor soared on the news, rising by 38.25% to 3 pence.

Founded in 2003, Monitise has yet to turn a profit. The company is one-year in to a last-ditch attempt to steer its customer base away from customised mobile banking platforms to cloud-based and on-premises products, having failed in an earlier search for a third-party suitor.

Comments: (1)

A Finextra member
A Finextra member 07 March, 2016, 08:17Be the first to give this comment the thumbs up 0 likes In 2012, Lukes stood in front of 300 Visa employees and told them that his business model was great. He then predicated that Groupon would be gone within a year because their model wasn't sufficient. After flooding it with Visa and ex Visa employees this little earner is over. Shouldnt he give back his CBE?