Monitise Puts Itself Up For Sale
Facing falling stock prices and forecasting lower than expected revenue in 2015, mobile banking firm Monitise has announced that it will be putting itself up for sale.
The U.K.-based mobile banking firm is in the midst of a transition to a product-based recurring revenue model, an effort that so far has yielded a 47 percent drop in license revenue to around $6.6 million. Development and integration revenue also took a tumble – down 13 percent to around $33 million. For 2015 in total, Monitise is forecasting a full year EBITDA loss of $60-76 million, although the company does anticipate being EBITDA profitable in FY 2016.
