Welcome!

News Feed Item

Clairmail to Be Acquired by Monitise

Acquisition Unites Mobile Money Leaders to Power a New Generation of Global Financial Institutions and Consumers Through a Comprehensive Set of Mobile Banking, Payment and Commerce Solutions

SAN RAFAEL, CA -- (Marketwire) -- 03/26/12 -- Clairmail, Inc., a leading North American mobile banking and payments provider, today announced that it has entered into a definitive acquisition agreement with Monitise plc (LSE: MONI.L), the technology and services company delivering mobile money networks worldwide. Monitise will acquire Clairmail for $173 million, pending regulatory and shareholder approvals.

Through the acquisition, Monitise will further enhance its position as the global leader in the fast expanding market for mobile money, spanning banking, payments and commerce.

The combined entity will encompass 13 million registered consumers across four continents. Clairmail and Monitise process billions of transactions a year and more than $10 billion of payments and transfers on a current weekly annualized basis.

On completion of the acquisition, the combined businesses will provide mobile money services to the widest possible range of financial institutions in the US. A third of the top 50 North American financial institutions (including 8 of the top 13) have chosen the companies' services alongside hundreds of smaller and medium sized financial institutions customers.

"Clairmail is an undisputed mobile banking leader with a strong roster of financial institutions of all sizes, having been chosen by more than a third of the top 50 North American banks to provide innovative mobile solutions to their customers," said Alastair Lukies, Monitise Group CEO. "Clairmail shares Monitise's customer-centric approach and dedication to bringing the best possible mobile experience and technology through constant innovation and a focus on delivering bank-grade mobile services to their customers. This deal is transformational for our customers, our team, our shareholders and our company. 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."

The acquisition further enhances Monitise's mobile money reach into North America through Clairmail's direct sales channel and deep relationships with leading financial institutions. For Clairmail, the acquisition brings the potential to expand the company's award-winning mobile banking technology to new customers across new markets. The acquisition provides a step change in growth potential for Monitise through direct sales in the US driven by Clairmail's mobile banking team and expertise. This, combined with Monitise's existing and unmatched strategic partnerships with Visa Inc. and FIS, provides the enlarged group with a leading position in the US and three commanding routes to market.

New and current customers of both companies will benefit from the balanced deployment models of on-premise and hosted mobile banking, payments and commerce products, providing a variety of options in the deployment and customization process. The suite of Clairmail products will be maintained and enhanced with both companies enriching each other's mobile offerings.

"This acquisition validates the vision behind both companies' strategies in the exploding mobile money market where Monitise has established a clear global leadership position," said Pete Daffern, Clairmail CEO. "Both companies have incredible synergy and are dedicated to offering bank-grade services that empower consumers to bank, pay and shop across any mobile device. I could not be more proud of the Clairmail team and its accomplishments since founding in 2004, and look forward to working with the seasoned team behind Monitise to continue innovating and pushing the boundaries of mobile banking, payments and commerce worldwide."

Pete Daffern will remain in his role as Head of the Clairmail business and will also join the Group Executive Board of Monitise, bringing his substantial experience and expertise to bear across the Group growth strategy.

About Clairmail, Inc.
Clairmail is a leading provider of mobile banking and payment solutions to the North American and European markets. Through an enterprise-wide technology platform and family of solutions, the company helps its Financial Institution (FI) customers capitalize on the benefits of mobile customer interaction across all lines of business. Clairmail works with forward-thinking institutions of all sizes to deliver innovative solutions via the mobile channel that improve customer acquisition and retention, reduce costs, mitigate security risks and generate new revenue opportunities. Founded in 2004, Clairmail is headquartered in San Rafael, CA and London. For more information call +1 (415) 526-7000 www.clairmail.com.

About Monitise Group
Monitise plc (LSE: MONI.L) is a technology and services company delivering mobile banking, payments and commerce networks worldwide with the proven technology and expertise to enable financial institutions and other service providers to offer a wide range of services to their customers in developed and emerging markets.

With live services in the UK, the US, India and Africa, the company is working with international partners to extend trusted and secure mobile banking, payment and commerce services in territories worldwide, including Europe, Asia Pacific and Latin America. Monitise has strategic partnerships with Visa Inc., Visa Europe, RBS Group and FIS. Other leading partners and clients include HSBC, Lloyds Banking Group, First Direct, U.S. Bank, Standard Chartered Bank, Travelex, Vocalink, Vodafone, Orange, O2, T-Mobile, 3 UK, Research In Motion, Best Buy Europe, The Carphone Warehouse, First Eastern, Astra International, JETCO and PCCW mobile.

More information is available at www.monitisegroup.com.

Add to Digg Bookmark with del.icio.us Add to Newsvine

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
SYS-CON Events announced today that SD Times | BZ Media has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and commercial UAV markets.
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
Building custom add-ons does not need to be limited to the ideas you see on a marketplace. In his session at 20th Cloud Expo, Sukhbir Dhillon, CEO and founder of Addteq, will go over some adventures they faced in developing integrations using Atlassian SDK and other technologies/platforms and how it has enabled development teams to experiment with newer paradigms like Serverless and newer features of Atlassian SDKs. In this presentation, you will be taken on a journey of Add-On and Integration ...
Now that the world has connected “things,” we need to build these devices as truly intelligent in order to create instantaneous and precise results. This means you have to do as much of the processing at the point of entry as you can: at the edge. The killer use cases for IoT are becoming manifest through AI engines on edge devices. An autonomous car has this dual edge/cloud analytics model, producing precise, real-time results. In his session at @ThingsExpo, John Crupi, Vice President and Eng...
There are 66 million network cameras capturing terabytes of data. How did factories in Japan improve physical security at the facilities and improve employee productivity? Edge Computing reduces possible kilobytes of data collected per second to only a few kilobytes of data transmitted to the public cloud every day. Data is aggregated and analyzed close to sensors so only intelligent results need to be transmitted to the cloud. Non-essential data is recycled to optimize storage.
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" ...
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
After more than five years of DevOps, definitions are evolving, boundaries are expanding, ‘unicorns’ are no longer rare, enterprises are on board, and pundits are moving on. Can we now look at an evolution of DevOps? Should we? Is the foundation of DevOps ‘done’, or is there still too much left to do? What is mature, and what is still missing? What does the next 5 years of DevOps look like? In this Power Panel at DevOps Summit, moderated by DevOps Summit Conference Chair Andi Mann, panelists l...
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, provided the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” used open source attack tools that are free and available for download by anybody. Attendees learned where to find and how to operate these tools for the purpose of testing their own IT infrastructure. The...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...