Monitise enters agreement to transfer UK Professional Services staff
to IBM
LONDON -- (Business Wire)
IBM (NYSE: IBM)
and Monitise plc (LSE: MONI.L) (“Monitise”, the “Company” or “Group”)
today announced a global digital commerce and resourcing alliance.
Combining the best of both companies’ mobile banking, payments and
commerce technology, this alliance brings IBM sales and specialist
resources to clients around the world with the full spectrum of advice,
solution design and delivery of Monitise’s Mobile Money services.
Building on Monitise’s IBM Global
Alliance announcement in July that included the IBM MobileFirst
portfolio of offerings. Monitise’s technology will be enabled, hosted
and sold as an IBM cloud-delivered solution worldwide in the
business-to-business space. This in turn underpins Monitise’s
go-to-market strategic priorities as announced in March 2014, including
its target for 200 million users using Mobile Money products and
services developed by Monitise by 2018.
As part of the collaboration, IBM’s global go-to-market investment of
dedicated resources and promotional initiatives, globally and in region,
will pair with Monitise staff to pursue Mobile Money opportunities.
While commercial opportunities initially will be targeted at financial
institutions, the companies will also address the needs of mobile
network operators, retailers and any vertical requiring simple API
connectivity to bank-grade, interoperable and scalable mobile payment
and commerce functionality and content.
As part of today’s agreement, teams from Monitise’s UK development and
integration business known as Professional Services -- including a
number of contractors -- will be transferred into IBM; IBM will in turn
deliver services back to Monitise. The transfer, which involves UK
employees representing a little over 20 percent of Monitise’s global
employee base, means Monitise technology talent will now be available
for both Monitise and IBM customer projects and vice versa. All Monitise
contracts and client relationships, intellectual property, commitments
and delivery remain unchanged.
The collaboration will substantially increase Monitise’s ability to
handle larger custom projects globally, in addition to implementing
standardised solutions. Equally, the resources will enhance IBM’s
ability to deliver existing and future Monitise-based Mobile Money
solutions to customers. Efficiencies derived from the collaboration
support Monitise’s target, as reiterated in its trading update in July
2014, to be profitable in FY 2016 and achieve an EBITDA margin of at
least 30 percent by end of FY 2018.
“Today’s businesses require solutions that radically streamline and
accelerate mobile adoption to reinvent the customer experience,” said
Bridget van Kralingen senior vice president, Global Business Services,
IBM. “Our deepening collaboration with Monitise, our strong cultural fit
and shared vision for a multi-channel future, ensures that we are
perfectly positioned to help our clients take full advantage of the
mobile opportunity.”
Monitise plc CEO Alastair Lukies said: “Today’s announcement marks a new
milestone in delivering an industry-leading Mobile Money partnership,
establishing IBM and Monitise as a global powerhouse. Together, we are
in an unrivalled position to enable banks and other leading businesses
to build on mobile banking and payments capabilities to tap into the
growing digital commerce opportunity.”
Lukies added: “Our deeper level of collaboration with IBM supports the
strategy update we announced in March with our increasing product focus
and our ability to scale, both in terms of our delivery capabilities and
our global footprint, as well as letting each company focus on its
proven market-leading strengths. Creating the most comprehensive and
easiest access to the best Mobile Money tools for businesses around the
world is the biggest driver behind this deal. No matter whether you are
a start-up, mid-sized or international bank, mobile network operator or
retailer, this unrivalled partnership delivering cost-effective
interoperable bank, pay and buy mobile products and solutions from any
country, helps business unlock the commercial benefits of Mobile Money.
About IBM MobileFirst
IBM’s 5,000 mobile experts have been at the forefront of mobile
enterprise innovation. IBM has secured more than 4,300 patents in
mobile, social and security, which have been incorporated into IBM
MobileFirst solutions that enable enterprise clients to radically
streamline and accelerate mobile adoption, help organizations engage
more people and capture new markets. Through IBM's partnership with
Apple, the two organizations are transforming enterprise mobility with a
new class of industry specific business apps. For more information on
IBM MobileFirst, visit the press kit or www.ibm.com/mobilefirst.
Follow @IBMMobile on Twitter, and see IBM MobileFirst on YouTube, Tumblr
and Facebook.
About Monitise
Monitise (LSE: MONI) is a world leader in Mobile Money - banking, paying
and buying with a mobile device. Leading banks, payments companies,
retailers and mobile networks utilise Monitise's technology platforms
and services to securely connect people with their money.
30 million consumers have registered for Monitise’s patented technology
to 'bank anywhere', 'pay anyone' and 'buy anything', accounting for
$88bn of payments, purchases and transfers annually. Additionally, apps
designed by the Group’s Monitise Create and MEA divisions have been
downloaded 30 million times. More information is available at www.monitise.com.
Contacts:
Monitise
Investor Relations
Andrew Griffin
Haya
Herbert-Burns
Tel: +44(0)20 3657 0366
investorrelations@monitise.com
or
Media
Relations
Gavin Haycock
Tel: +44(0)20 3657 0362
Gavin.haycock@monitise.com
or
Canaccord
Genuity
Simon Bridges
Cameron Duncan
Tel: +44(0)20
7523 8000
or
FTI Consulting
Charles Palmer
Sophie
McMillan
Tel: +44(0)20 3727 1000
or
IBM
UK
External Relations
Lucy Linthwaite
Tel: +44(0)20 7021 8911
Lucy.linthwaite@uk.ibm.com
Source: FTI Consulting Monitise
© 2024 Canjex Publishing Ltd. All rights reserved.