2nd Oct 2007 10:57
Monitise PLC02 October 2007 2 October 2007 MONITISE PLC ANNOUNCES SOFTWARE LICENSE AGREEMENT IN THE USA Monitise plc ("Monitise"), the global leader in the provision of mobile bankingand payments services, is pleased to announce the completion of the SoftwareLicense Agreement with Monitise Americas LLC (Monitise Americas), a jointventure company between Monitise and Metavante Corporation ("Metavante"), thebanking and payments technology subsidiary of Marshall & Ilsley Corporation(NYSE: MI). The license allows the use of Monitise's mobile banking andpayments software to create a mobile banking and payments ecosystem for theUnited States and Canada. In accordance with the memorandum of understanding agreed with Metavante inMarch 2007, the license has been granted to Monitise Americas with an ongoingannual licence fee of US$1.5m. In addition, royalties measured against volumethresholds will be payable up to a maximum of US$20m (inclusive of license feesand royalties). Following this, royalty fees cease but the US$1.5m annuallicense fee obligation continues. The license commences on 1st October and afee of US$375k is now payable for the final quarter of 2007, with the first fullannual license fee due in January 2008. Commenting on today's announcement, Alastair Lukies, chief executive of Monitiseplc said: "The announcement today demonstrates the progress that we are continuing to makeand the appeal of our technology in international markets. Monitise Americas isalready well advanced in terms of the delivery of mass-market mobile banking andpayments technology to financial institutions in the United States and we lookforward to launching services later this year." -ends- About Monitise plc Monitise plc (MONI.L) is a specialist in mobile banking and payments technology.It has developed the world's first mobile banking ecosystem, which allowsconsumers to perform banking and payment transactions using a single consistentinterface regardless of their choice of mobile operator or bank. With live services in the UK, where it has delivered the MONILINK network inpartnership with VocaLink, the company is currently working with internationalpartners to deliver similar safe, secure mobile banking services in territoriesworldwide. Current key partners include VocaLink Interchange Network, Metavante,BT Global Services, T-Systems, HSBC, first direct, Alliance & Leicester, RoyalBank of Scotland, NatWest, Vodafone, Orange, O2, T-Mobile and Hutchison 3G. Monitise was recognised as a 'Technology Pioneer' by the World Economic Forum in2006; 'Mobile Innovation of the Year' by The Banker Magazine in 2007 and;awarded the Innovation in Messaging award 2007 by the Mobile MessagingAssociation. www.monitise.com About Metavante Metavante Corporation delivers banking and payments technologies to over 8,600financial services firms and businesses worldwide. Metavante products andservices drive account processing for deposit, loan and trust systems,image-based and conventional check processing, electronic funds transfer,consumer healthcare payments, electronic presentment and payment, and businesstransformation services. Headquartered in Milwaukee, Metavante(www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE: MI).On April 3, 2007, Marshall & Ilsley Corporation announced its plans to splitMetavante Corporation and Marshall & Ilsley Corporation into independentpublicly traded companies. About Monitise Americas Monitise Americas is a joint venture between Monitise plc (MONI.L), a specialistin mobile banking technology, and Metavante Corporation, a leading provider ofbanking and payments technologies to financial institutions and businessesworldwide. Monitise Americas provides mobile banking and payments services toNorth American financial institutions predicated on an 'ecosystem' principle,which allows multiple mobile operators and financial institutions to deliverservices over a single platform. www.monitiseamericas.com Ben EvettsMonitise plc+44 (0)20 7868 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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