Brookfield, Wis.-based tech giant Fiserv has completed its acquisition of Monitise, a U.K.-based mobile payments software and solutions provider, reports Paybefore sister publication Banking Technology.
The purchase was first announced in June this year, with Fiserv offering 2.90 pence per Monitise’s share, valuing the company at around £70 million (US$90.7 million). The offer, however, was rejected by Monitise’s shareholders.
Fiserv then upped its bid to 3.10 pence per share, increasing the digital paytech vendor’s value to £75 million (US$97.2 million). The offer was accepted and the transaction is now closed.
Jeffery Yabuki, Fiserv’s president and CEO, describes Monitise as “a global pioneer and innovator in digital banking” with “talented associates and advanced technologies.”
The announcement follows hot on the heels of another high-profile Fiserv acquisition of back-office paytech vendor Dovetail.
Image Credits: Shutterstock/Gang Liu