Monitise acquires Markco Media for £55m

Mobile money giant Monitise has acquired Markco Media for £55m.

Markco Media, the company behind voucher site MyVoucherCodes.co.uk, will be integrated with Monitise’s Buy Anything mobile commerce product offering which connects 60,000 brands and retailers.

Founded in 2009, MyVoucherCodes.co.uk works with 80% of the UK’s leading online retailers and counts Marks & Spencer, John Lewis, Debenhams, Thomson Holidays and Argos among its clients.  

The initial consideration for a deal is to be satisfied by issue of 43,729,676 new shares of 1p each, valued at £24.5m. An earn-out consideration has been set up for an additional £28m payable in ordinary shares on basis of retention and achievement of aggressive earn-out targets over two years.

Monitise chief commercial officer Lee Cameron said: “Markco Media has established itself as a leading player in creating digital solutions that link consumers to retailers via innovation, marketing and technology. Buying rather than building these assets brings Monitise a marketing content delivery platform that has been developed over almost eight years, an instant network of marketing content partners, and a platform scalable across geographies.”

Markco Media founder Mark Pearson said: “Mobile is driving a fundamental shift in consumer behaviour and increasingly playing a leading role in the buying decisions of consumers as they use their smartphones and tablets to research and buy. Brands are realising just how important it is to adopt a mobile-first approach to getting in front of existing and new customers. Given this, we are incredibly excited about becoming part of the growing Mobile Money ecosystem that Monitise is building across financial services, payment processors, mobile network operators and retailers.”

Now read:

The interview: Mark Pearson, MyVoucherCodes.co.uk

 

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