Clairmail Inc. is being acquired by Monitise plc in a deal valued at $173 million, a consolidation in the mobile banking and payments industry as it enters the mainstream of developed countries.
The combined company will have 13 million registered consumers across four continents, processing more than $10 billion of payments and transfers on a current weekly annualized basis for partners that include a third of the top 50 North American financial institutions.
Current Clairmail CEO Pete Daffern will remain as head of the Clairmail business and also will join the Group Executive Board of Monitise.
“This deal is transformational for our customers, our team, our shareholders and our company,” said Alastair Lukies, Monitise Group CEO. “It is a compelling combination and great news for all those wanting to offer bank-grade mobile money services to billions of consumers, not only in the US but worldwide.”
Bank Technology News – With Eye on U.S. Mobile Pay Market, Monitise to Merge with Clairmail
Reuters – Monitise buys US rival Clairmail for $173 mln
AllThingsD – Mobile Banking Provider Clairmail Sells to Monitise for $173 Million
Mobile magazine [U.K.] – Monitise makes ‘transformational’ Clairmail acquisition