4th Mar 2016 11:33
LONDON (Alliance News) - Monitise PLC on Friday said it is in early stage talks to sell Markco Media, which was acquired in June 2014 to bolster the payments company's mobile commerce network.
"There is no certainty that a disposal will take place or what the terms of any such disposal may be," Monitise said.
Shares in Monitise were up 41% on the news at 3.05 pence.
Monitise had previously said it was evaluating all its assets to ensure they remain "core" to the group.
"Markco Media was brought into the group to be the content engine, utilising its network of relationships with retailers, affiliates and ticket agencies in order to provide vouchers, coupons and exclusive ticket offers to mobile banking users which they could redeem at the point of sale online or in store which would generate a commission for Monitise," the company said last month in its interim results for the six months to December 31.
"The business continues to perform well and is showing growth, albeit that it is clearly distinguished from the other units and operates as a standalone business. Content now serves white label solutions to four B2B clients including EE and Nectar. Myvouchercodes.co.uk, the consumer-facing brand of Content, had a strong trading performance over Christmas and finished ahead of target for January, it currently has over seven million members," Monitise said at the time.
By Samuel Agini; [email protected]; @samuelagini
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