Monitise and Telefonica pivot to cloud

Source: Monitise

Monitise plc (LSE: MONI) announces that Telefónica Digital (“Telefónica”), part of one of the largest telecommunications companies in the world in terms of market capitalisation and number of customers, has entered into an agreement to explore potential projects based on the Monitise cloud platform.

The new framework agreement supersedes the previous contract between Monitise and Telefónica, which was announced on 1 July 2013. This development is consistent with the Company’s transition to become a cloud business and the Company’s guidance for FY 2016 remains unchanged as a result of this announcement.

Monitise’s new cloud platform, which launched earlier this year, is at the core of its strategy to help clients deliver innovative digital services to their customers. The platform provides software-as-a-service products as well as ‘build your own’ platform-as-a-service capabilities.

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